The market has stabilized, the first signs of a downtrend appeared
April 6, 2021 7:48:42 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.94)
-65 p
0.9465
Stop Loss
0.9400
Entry
+60 p
0.9340
Target 1
+100 p
0.9300
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- 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.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.
- Price broke through the MVP line and rushed down. We consider this a sign for further USDCHF price decrease.
