NZDUSD - Downward trend will continue, Short trade by market price recommended

October 11, 2022 6:17:22 PM by Alex Zarevich
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.5625)
18:17
18:17
Oct. 11, 2022

-95 p
0.5720
Stop Loss
0.5625
Entry
+95 p
0.5530
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on NZDUSD. As a result, we recommend considering only Short trades at this time.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
  4. We are focused on the breakdown of the previous bottom, the target at the level of 0.553.
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