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

December 2, 2021 5:12:02 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6770)
17:09
17:09
Dec. 2, 2021

-50 p
0.6865
Stop Loss
0.6815
Entry
+45 p
0.6770
Target 1
+70 p
0.6745
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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 0.677, and the second one, in case of an active price decrease, is at the level - 0.6745
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