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

August 8, 2022 3:19:07 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9575)
15:19
15:19
Aug. 8, 2022

-75 p
0.9650
Stop Loss
0.9575
Entry
+75 p
0.9500
Target 1
+110 p
0.9465
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  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 - 0.95
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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