USDCHF - Downward trend will continue, Short trade by market price recommended
August 31, 2020 9:41:21 AM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.904)
-60 p
0.9100
Stop Loss
0.9040
Entry
+50 p
0.8990
Target 1
+65 p
0.8975
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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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.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- 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.
