The market has stabilized, the first signs of a downtrend appeared

January 6, 2022 10:18:49 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6775)
10:13
10:13
Jan. 6, 2022

-90 p
0.6865
Stop Loss
0.6775
Entry
+85 p
0.6690
Target 1
+110 p
0.6665
Target 2
Chart & Analyst Comments
main-sell-trend-2
  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. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further NZDUSD price decrease.
  5. The first target is at the level of the previous bottom - 0.669, and the second one, in case of an active price decrease, is at the level - 0.6665
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