NZDUSD - Upward trend will continue, Long trade by market price recommended
May 11, 2021 5:48:31 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.723)
+75 p
0.7340
Target 2
+50 p
0.7315
Target 1
0.7265
Entry
-55 p
0.7210
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. An increase of NZDUSD price is expected.
- The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
- 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
