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

February 1, 2022 8:22:42 PM by Alex Zarevich
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6620)
20:20
20:20
Feb. 1, 2022

-70 p
0.6710
Stop Loss
0.6640
Entry
+60 p
0.6580
Target 1
+90 p
0.6550
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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 activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous bottom - 0.658, and the second one, in case of an active price decrease, is at the level - 0.655
    index: 1x 0.034587860107422s
t_/pages/forecast: 1x 0.03120493888855s
t_/common/header-new: 1x 0.019752979278564s
t_/common/head: 1x 0.016129970550537s
t_/common/footer-new: 1x 0.0024590492248535s
router_page: 1x 0.0015549659729004s
router: 1x 0.00072097778320312s
t_/popups/on-download: 1x 0.00051593780517578s
service-routes: 1x 0.00031304359436035s
router_redirection: 1x 0.00014710426330566s
t_/popups/zoom: 1x 4.3869018554688E-5s
----- END OF DUMP (2023-01-31 10:26:01)  -----