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

November 8, 2021 5:34:44 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.7085)
17:33
17:33
Nov. 8, 2021

+70 p
0.7215
Target 2
+50 p
0.7195
Target 1
0.7145
Entry
-60 p
0.7085
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. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. Price broke through the MVP line and rushed up. We consider this a sign for further NZDUSD price increase.
  5. The first target is at the level of the previous peak - 0.7195, and the second one, in case of an active price increase, is at the level - 0.7215
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