- 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.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
- We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.
USDCHF - Downward trend will continue, Short trade by market price recommended
November 8, 2022 10:24:11 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9800)
-80 p
0.9970
Stop Loss
0.9890
Entry
+90 p
0.9800
Target 1
Chart & Analyst Comments
