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

December 20, 2019 8:19:00 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.977)
8:16
8:16
Dec. 20, 2019

-50 p
0.9820
Stop Loss
0.9770
Entry
+44 p
0.9725
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

For this forecast, we recommend to set Sell Limit at the following price - 0.977. This idea is based on the following analysis:

  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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.