USDCHF - Downward trend will continue, Short trade by market price recommended
August 6, 2020 10:50:18 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9145)
-60 p
0.9145
Stop Loss
0.9085
Entry
+65 p
0.9020
Target 1
+90 p
0.8995
Target 2
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 0.902
