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 (0.657)
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
NZDUSD - Upward trend will continue, Long trade by market price recommended
  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