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

August 6, 2020 10:50:18 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9145)
10:46
10:46
Aug. 6, 2020

-60 p
0.9145
Stop Loss
0.9085
Entry
+65 p
0.9020
Target 1
+90 p
0.8995
Target 2
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  4. 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