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

November 4, 2019 6:07:17 PM by Patrick Yang
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9985)
Start
End
Nov. 4, 2019
Nov. 11, 2019

-115 p
0.9985
Stop Loss
0.9870
Entry
+120 p
0.9750
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. 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.
  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.