USDCHF - Downward trend will continue, Short trade by market price recommended
August 18, 2021 6:36:47 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9195)
-50 p
0.9195
Stop Loss
0.9145
Entry
+45 p
0.9100
Target 1
+60 p
0.9085
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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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.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
