USDCHF - Downward trend will continue, Short trade by market price recommended
January 23, 2020 7:46:42 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed
-44 p
0.9730
Stop Loss
0.9685
Entry
+55 p
0.9630
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.