The market has stabilized, the first signs of a downtrend appeared

March 11, 2020 7:41:46 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.93)
7:34
7:34
Mar. 11, 2020

-70 p
0.9370
Stop Loss
0.9300
Entry
+65 p
0.9235
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.