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 (0.7)
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
NZDUSD - Upward trend will continue, Long trade by market price recommended
  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.