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

August 5, 2021 6:33:58 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.7000)
18:32
18:32
Aug. 5, 2021

+55 p
0.7115
Target 1
0.7060
Entry
-60 p
0.7000
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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 number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. MVP line is below the price and acts as a support level.
  5. 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.
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