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

March 23, 2021 7:51:35 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9350)
7:42
7:42
Mar. 23, 2021

-70 p
0.9350
Stop Loss
0.9280
Entry
+70 p
0.9210
Target 1
+95 p
0.9185
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous low breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 0.921
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