USDCHF - Downward trend will continue, Short trade by market price recommended
April 12, 2021 5:08:46 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9245)
-60 p
0.9320
Stop Loss
0.9260
Entry
+60 p
0.9200
Target 1
+85 p
0.9175
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.
