The market has stabilized, the first signs of an uptrend appeared
September 4, 2020 6:03:46 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.67)
+115 p
0.6790
Target 2
+75 p
0.6750
Target 1
0.6675
Entry
-75 p
0.6600
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
