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

December 4, 2019 7:13:25 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.6545)
19:06
19:06
Dec. 4, 2019

+75 p
0.6600
Target 1
0.6525
Entry
-60 p
0.6465
Stop Loss
Chart & Analyst Comments
NZDUSD - Upward trend will continue, Long trade by market price recommended

Only Long trades is in play today for NZDUSD. Considering the trend is in its active phase, your Buy Order(s) should be opened at the market price since the corrections are unlikely. Check out the picture above for further explanation:

  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to Buy Orders.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.