NZDUSD - Upward trend will continue, Long trade by market price recommended

July 6, 2021 3:41:13 PM by Alex Zarevich
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.6955)
15:38
15:38
Jul. 6, 2021

+85 p
0.7100
Target 2
+60 p
0.7075
Target 1
0.7015
Entry
-60 p
0.6955
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. 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.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. 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
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