The market has stabilized, the first signs of an uptrend appeared
November 5, 2020 11:16:22 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.6795)
+95 p
0.6795
Target 2
+60 p
0.6760
Target 1
0.6700
Entry
-65 p
0.6635
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 increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 0.676
