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

November 16, 2022 9:08:46 AM by Alex Zarevich
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9480)
9:08
9:08
Nov. 16, 2022

-70 p
0.9490
Stop Loss
0.9420
Entry
+75 p
0.9345
Target 1
+120 p
0.9300
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  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.
  5. The first target is at the level of the previous bottom - 0.9345, and the second one, in case of an active price decrease, is at the level - 0.93
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