USDCHF - Upward trend will continue, Long trade by market price recommended

November 28, 2019 8:16:30 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Buy
StatusClosed (1)
20:15
20:15
Nov. 28, 2019

+59 p
1.0050
Target 1
0.9990
Entry
-60 p
0.9930
Stop Loss
Chart & Analyst Comments
USDCHF - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 0.999. This idea is based on the following analysis:

  1. According to the Current Ratio indicator, the market crowd inclined to believe in a downward movement. We recommend Long trade for today.
  2. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. MVP line is below the price and acts as a support level.
  5. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.