The market has stabilized, the first signs of a downtrend appeared

July 15, 2019 1:02:01 PM by Patrick Yang
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9805)
Start
End
Jul. 15, 2019
Jul. 22, 2019

-84 p
0.9950
Stop Loss
0.9865
Entry
+100 p
0.9765
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 going only short at this time.
  2. There is an increase in sell orders when the price attempts to move down. We expect an upward movement to eliminate accumulated sellers, so we recommend to set Sell Limit at 0.9865.
  3. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.
  4. MVP line is above the price and acts as a resistance level.