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

January 5, 2023 10:55:35 AM by Alex Zarevich
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9340)
10:55
10:55
Jan. 5, 2023

-70 p
0.9340
Stop Loss
0.9270
Entry
+70 p
0.9200
Target 1
+95 p
0.9175
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. 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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