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

October 29, 2019 7:31:58 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Buy
StatusClosed (0.993)
7:29
7:29
Oct. 29, 2019

+79 p
1.0025
Target 2
+54 p
1.0000
Target 1
0.9945
Entry
-55 p
0.9890
Stop Loss
Chart & Analyst Comments
USDCHF - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on USDCHF. As a result, we recommend considering only Long trades at this time.
  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. Downward movement is accompanied by the activity of sellers who will serve as a "fuel" for upward price movement.
  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.