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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 (0.9040)
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
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 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.
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