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

May 27, 2020 7:30:38 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.968)
7:24
7:24
May 27, 2020

-50 p
0.9730
Stop Loss
0.9680
Entry
+50 p
0.9630
Target 1
+80 p
0.9600
Target 2
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. MVP line is above the price and acts as a resistance level.
  5. 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.