- 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.
- 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.
- The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
- Price broke through the MVP line and rushed down. We consider this a sign for further NZDUSD price decrease.
- 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
The market has stabilized, the first signs of a downtrend appeared
January 6, 2022 10:18:49 AM
Forecast Details
PairNZDUSD
Direction
Sell
StatusClosed (0.6775)
-90 p
0.6865
Stop Loss
0.6775
Entry
+85 p
0.6690
Target 1
+110 p
0.6665
Target 2
Chart & Analyst Comments
