USDCHF - Downward trend will continue, Short trade by market price recommended
June 8, 2021 6:14:19 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.896)
-75 p
0.9050
Stop Loss
0.8975
Entry
+80 p
0.8895
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 11
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of USDCHF price is expected.
- MVP line is above the price and acts as a resistance level.
- The given Stop Losses of market participants are on the same level as the previous low, which will serve as the target for our trade.
