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

June 6, 2019 5:34:39 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9965)
5:32
5:32
Jun. 6, 2019

-54 p
1.0020
Stop Loss
0.9965
Entry
+55 p
0.9910
Target 1
+85 p
0.9880
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

The downwards scenario is quite obvious, but the presence of a large number of "fellow travelers" will not allow the price to immediately go down. We expect a false move up and afterwards set up a Sell Limit.

  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. There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.