USDCHF - Downward trend will continue, Short trade by market price recommended
August 7, 2019 6:47:44 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.97)
-60 p
0.9820
Stop Loss
0.9760
Entry
+60 p
0.9700
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 11
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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 going only short at this time.
- The Current Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- After a slight upward price movement, profitable buyers will begin actively to take profits, returning the price to its original position.
- MVP line is above the price and acts as a resistance level.