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USDCHF - Downward trend will continue, Short trade by market price recommended

April 4, 2022 9:09:59 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9250)
9:09
9:09
Apr. 4, 2022

-65 p
0.9330
Stop Loss
0.9265
Entry
+65 p
0.9200
Target 1
+90 p
0.9175
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on USDCHF. As a result, we recommend considering only Short trades at this time.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 0.92, and the second one, in case of an active price decrease, is at the level - 0.9175
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