USDCHF - Downward trend will continue, Short trade by market price recommended

December 22, 2020 1:07:49 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.891)
13:05
13:05
Dec. 22, 2020

-60 p
0.8910
Stop Loss
0.8850
Entry
+50 p
0.8800
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  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.