USDCHF - Upward trend will continue, Long trade by market price recommended

October 20, 2022 1:47:41 PM by Alex Zarevich
Forecast Details
PairUSDCHF
Direction Buy
StatusClosed (1.0100)
13:47
13:47
Oct. 20, 2022

+60 p
1.0100
Target 1
1.0040
Entry
-50 p
0.9990
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy USDCHF.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. MVP line is below the price and acts as a support level.
  5. The risk-to-profit ratio allows us to set Take Profit for a Long trade at 1.01
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