The market has stabilized, the first signs of a downtrend appeared
October 19, 2020 8:27:57 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.91)
-70 p
0.9190
Stop Loss
0.9120
Entry
+60 p
0.9060
Target 1
+80 p
0.9040
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 11
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
- 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.
- 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.
