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The market has stabilized, the first signs of a downtrend appeared

April 6, 2021 7:48:42 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9400)
7:47
7:47
Apr. 6, 2021

-65 p
0.9465
Stop Loss
0.9400
Entry
+60 p
0.9340
Target 1
+100 p
0.9300
Target 2
Chart & Analyst Comments
main-sell-trend-2
  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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. 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.
  5. Price broke through the MVP line and rushed down. We consider this a sign for further USDCHF price decrease.
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