NZDUSD - Downward trend will continue, Short trade by market price recommended

November 6, 2019 6:53:32 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6365)
18:51
18:51
Nov. 6, 2019

-60 p
0.6425
Stop Loss
0.6365
Entry
+55 p
0.6310
Target 1
Chart & Analyst Comments
NZDUSD - Downward trend will continue, Short trade by market price recommended
  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 Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. The indicator shows a slight increase in buyers. This indicates that the market crowd responded to this level.
  4. We are focused on the breakdown of the previous bottom, the target at the level of 0.631.
  5. MVP line is above the price and acts as a resistance level.