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

October 19, 2020 8:27:57 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.91)
8:26
8:26
Oct. 19, 2020

-70 p
0.9190
Stop Loss
0.9120
Entry
+60 p
0.9060
Target 1
+80 p
0.9040
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
  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. 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.