USDCHF - Downward trend will continue, Short trade by market price recommended
October 6, 2020 8:53:38 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9175)
-60 p
0.9210
Stop Loss
0.9150
Entry
+50 p
0.9100
Target 1
+70 p
0.9080
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 10
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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.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
