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

September 5, 2019 7:23:44 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.986)
7:17
7:17
Sep. 5, 2019

-60 p
0.9890
Stop Loss
0.9830
Entry
+64 p
0.9765
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  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 going only short at this time.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. MVP line is above the price and acts as a resistance level.
  4. Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact swings trades in favor of sell orders.
  5. These stop losses of market participants coincide with the level of the previous low. This level will serve as the target for our trade.