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

July 10, 2020 10:07:33 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.6570)
10:06
10:06
Jul. 10, 2020

+80 p
0.6650
Target 2
+50 p
0.6620
Target 1
0.6570
Entry
-70 p
0.6500
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. 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.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 0.662, and the second one, in case of an active price increase, is at the level - 0.665
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