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

May 24, 2021 1:13:13 PM by Alexander Zorevyk
Forecast Details
Direction Sell
StatusClosed (0.8960)
May 24, 2021

-60 p
Stop Loss
+55 p
Target 1
+80 p
Target 2
Chart & Analyst Comments
  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. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous bottom - 0.892, and the second one, in case of an active price decrease, is at the level - 0.8895
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