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NZDUSD - Downward trend will continue, Short trade by market price recommended

May 5, 2022 1:34:12 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6400)
13:34
13:34
May 5, 2022
-85 p
0.6565
Stop Loss
0.6480
Entry
+80 p
0.6400
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on NZDUSD. As a result, we recommend considering only Short trades at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. MVP line is above the price and acts as a resistance level.
  4. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 0.64
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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