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

January 13, 2020 7:47:03 PM by Patrick Yang
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9682)
Start
End
Jan. 13, 2020
Jan. 20, 2020

-130 p
0.9830
Stop Loss
0.9700
Entry
+125 p
0.9575
Target 1
Chart & Analyst Comments
USDCHF - Downward trend will continue, Short trade by market price recommended

Falling price is accompanied by minor retracement with the formation of resistance at their respective peaks.

  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.