NZDUSD - Upward trend will continue, Long trade by market price recommended
July 6, 2021 3:41:13 PM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.6955)
+85 p
0.7100
Target 2
+60 p
0.7075
Target 1
0.7015
Entry
-60 p
0.6955
Stop Loss
About Author
Alexander Zorevyk
Expert
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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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- 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 first target is at the level of the previous peak - 0.7075, and the second one, in case of an active price increase, is at the level - 0.71
