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

July 9, 2021 7:51:18 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9135)
7:49
7:49
Jul. 9, 2021

-60 p
0.9210
Stop Loss
0.9150
Entry
+60 p
0.9090
Target 1
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 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.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further USDCHF price decrease.
  5. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 0.909
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