NZDUSD - Upward trend will continue, Long trade by market price recommended

November 3, 2021 12:11:25 PM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (0.7080)
Nov. 3, 2021

+75 p
Target 2
+55 p
Target 1
-60 p
Stop Loss
Chart & Analyst Comments

For today's forecast, we recommend a Buy Order at this recommended market price - 0.714. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in short positions on NZDUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 0.7195, and the second one, in case of an active price increase, is at the level - 0.7215
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