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

August 31, 2020 9:41:21 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.904)
9:35
9:35
Aug. 31, 2020

-60 p
0.9100
Stop Loss
0.9040
Entry
+50 p
0.8990
Target 1
+65 p
0.8975
Target 2
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. 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.