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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-trend-2
Forecast Details
PairNZDUSD
Publication Time12/7/21 4:50 PM
Direction Sell
Status Closed (0.6800)
16:43
16:43
Dec. 7, 2021
Forecast
-45 p
0.6845
Stop Loss
0.6800
Entry
+55 p
0.6745
Target 1
+75 p
0.6725
Target 2
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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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