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

May 11, 2021 5:48:31 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.7230)
5:46
5:46
May 11, 2021

+75 p
0.7340
Target 2
+50 p
0.7315
Target 1
0.7265
Entry
-55 p
0.7210
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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. An increase of NZDUSD price is expected.
  4. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous peak - 0.7315, and the second one, in case of an active price increase, is at the level - 0.734
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