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

October 31, 2019 9:26:58 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.987)
9:22
9:22
Oct. 31, 2019

-60 p
0.9930
Stop Loss
0.9870
Entry
+80 p
0.9790
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended

A short-term Sell trade is recommended using a market order while sideways movement.

  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
  2. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  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. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.