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

May 7, 2021 8:32:37 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.7285)
8:31
8:31
May 7, 2021

+90 p
0.7315
Target 2
+60 p
0.7285
Target 1
0.7225
Entry
-55 p
0.7170
Stop Loss
Chart & Analyst Comments
NZDUSD - Upward trend will continue, Long trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  3. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. An increase of NZDUSD price is expected.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 0.7285, and the second one, in case of an active price increase, is at the level - 0.7315