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

February 23, 2021 7:35:55 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9025)
7:17
7:17
Feb. 23, 2021

-65 p
0.9025
Stop Loss
0.8960
Entry
+60 p
0.8900
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on USDCHF. As a result, we recommend considering only Short trades at this time.
  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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.