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

January 24, 2022 1:38:38 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9175)
13:36
13:36
Jan. 24, 2022

-50 p
0.9175
Stop Loss
0.9125
Entry
+55 p
0.9070
Target 1
+80 p
0.9045
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. 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 first target is at the level of the previous bottom - 0.907, and the second one, in case of an active price decrease, is at the level - 0.9045
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