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

May 21, 2019 5:51:25 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Buy
StatusClosed (1.0115)
5:45
5:45
May 21, 2019

+60 p
1.0160
Target 1
1.0100
Entry
-50 p
1.0050
Stop Loss
Chart & Analyst Comments
USDCHF - Upward trend will continue, Long trade by market price recommended

Only Long trades is in play today for USDCHF. Considering the trend is in its active phase, your Buy Order(s) should be opened at the market price since the corrections are unlikely. Check out the picture above for further explanation:

  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDCHF. As a result, we recommend considering only Long trades at this time.
  2. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. There is an increase in the number of bears on the downward movement, followed by correction. We consider this movement as a trap for sellers and look forward for a continuation of the uptrend.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.