USDCHF - Downward trend will continue, Short trade by market price recommended
November 4, 2019 6:07:17 PM
Forecast Details
PairUSDCHF
Direction
Sell
StatusClosed (0.9985)
-115 p
0.9985
Stop Loss
0.9870
Entry
+120 p
0.9750
Target 1
About Author
Patrick Yang
Expert
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Total votes: 0
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- 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.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.