NZDUSD - Upward trend will continue, Long trade by market price recommended
August 5, 2021 6:33:58 PM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.7)
+55 p
0.7115
Target 1
0.7060
Entry
-60 p
0.7000
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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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 number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- MVP line is below the price and acts as a support level.
- 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.
