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

July 27, 2020 2:28:00 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9155)
14:26
14:26
Jul. 27, 2020

-60 p
0.9260
Stop Loss
0.9200
Entry
+55 p
0.9145
Target 1
+80 p
0.9120
Target 2
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended

For today's forecast, we recommend a Sell Order at this recommended market price - 0.92. This idea is based on the following analysis:

  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 idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  3. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.