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The market has stabilized, the first signs of a downtrend appeared

December 7, 2021 4:50:44 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6800)
16:43
16:43
Dec. 7, 2021

-45 p
0.6845
Stop Loss
0.6800
Entry
+55 p
0.6745
Target 1
+75 p
0.6725
Target 2
Chart & Analyst Comments
main-sell-trend-2
  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 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.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous bottom - 0.6745, and the second one, in case of an active price decrease, is at the level - 0.6725
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