NZDUSD - Upward trend will continue, Long trade by market price recommended
May 7, 2021 8:32:37 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.7285)
+90 p
0.7315
Target 2
+60 p
0.7285
Target 1
0.7225
Entry
-55 p
0.7170
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 0
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- 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.
- The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. An increase of NZDUSD price is expected.
- MVP line is below the price and acts as a support level.
- 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
