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

December 16, 2019 7:46:56 AM by Patrick Yang
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9800)
Start
End
Dec. 16, 2019
Dec. 23, 2019

-150 p
0.9980
Stop Loss
0.9830
Entry
+145 p
0.9685
Target 1
Chart & Analyst Comments
main-sell-market-trend-1

We are expecting downward trend to continue for USDCHF currency pair. Short trades only. See below for the summary of analysis:

  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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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