USDCHF - Downward trend will continue, Short trade by market price recommended
July 27, 2020 2:28:00 PM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9155)
-60 p
0.9260
Stop Loss
0.9200
Entry
+55 p
0.9145
Target 1
+80 p
0.9120
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
For today's forecast, we recommend a Sell Order at this recommended market price - 0.92. This idea is based on the following analysis:
- 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.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- 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.
