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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-trend-2
Forecast Details
PairUSDCHF
Publication Time10/19/20 8:27 AM
Direction Sell
Status Closed (0.9100)
8:26
8:26
Oct. 19, 2020
Forecast
-70 p
0.9190
Stop Loss
0.9120
Entry
+60 p
0.9060
Target 1
+80 p
0.9040
Target 2
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Chart & Analyst Comments

main-sell-trend-2
  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.
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