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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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 Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can 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 actively begin to take profits, returning the price to its original position.
- MVP line is above the price and acts as a resistance level.