USDCHF - Downward trend will continue, Short trade by market price recommended
March 23, 2021 7:51:35 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.935)
-70 p
0.9350
Stop Loss
0.9280
Entry
+70 p
0.9210
Target 1
+95 p
0.9185
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 8
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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.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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
