USDCHF - Downward trend will continue, Short trade by market price recommended
February 23, 2021 7:35:55 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9025)
-65 p
0.9025
Stop Loss
0.8960
Entry
+60 p
0.8900
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- 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.
