NZDUSD - Upward trend will continue, Long trade by market price recommended
December 7, 2020 9:02:01 PM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.704)
+90 p
0.7130
Target 2
+60 p
0.7100
Target 1
0.7040
Entry
-60 p
0.6980
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- 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.
- The first target is at the level of the previous peak - 0.71, and the second one, in case of an active price increase, is at the level - 0.713
