USDCHF - Downward trend will continue, Short trade by market price recommended
May 27, 2020 7:30:38 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.968)
-50 p
0.9730
Stop Loss
0.9680
Entry
+50 p
0.9630
Target 1
+80 p
0.9600
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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Chart & Analyst Comments
- 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.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- 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.
