USDCHF - Downward trend will continue, Short trade by market price recommended
December 22, 2020 1:07:49 PM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.891)
-60 p
0.8910
Stop Loss
0.8850
Entry
+50 p
0.8800
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 0
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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.
