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

July 8, 2020 5:17:41 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.6580)
5:12
5:12
Jul. 8, 2020

+80 p
0.6620
Target 2
+60 p
0.6600
Target 1
0.6540
Entry
-65 p
0.6475
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone as a support.
  5. The SLC indicator displays a cluster of Stop Losses and Stop orders at the previous high level, which according to our forecast, is good for placing Take Profit.
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