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

May 30, 2022 4:13:16 PM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9640)
16:13
16:13
May 30, 2022

-65 p
0.9640
Stop Loss
0.9575
Entry
+55 p
0.9520
Target 1
+75 p
0.9500
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. The Ratios indicator demonstrates a market shift towards buyers. Their increase while the upward movement may indicate a successfully triggered trap. Possible price downward reversal.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 0.952, and the second one, in case of an active price decrease, is at the level - 0.95
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