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

June 15, 2020 5:31:09 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9485)
5:25
5:25
Jun. 15, 2020

-70 p
0.9580
Stop Loss
0.9510
Entry
+60 p
0.9450
Target 1
+110 p
0.9400
Target 2
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  5. The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
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