NZDUSD - Upward trend will continue, Long trade by market price recommended
November 9, 2020 6:45:57 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.6835)
+105 p
0.6910
Target 2
+75 p
0.6880
Target 1
0.6805
Entry
-75 p
0.6730
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on NZDUSD. As a result, we recommend considering only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.
