- 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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- We are focused on the breakdown of the previous bottom, the target at the level of 0.553.
NZDUSD - Downward trend will continue, Short trade by market price recommended
October 11, 2022 6:17:22 PM
Forecast Details
PairNZDUSD
Direction
Sell
StatusClosed (0.5625)
-95 p
0.5720
Stop Loss
0.5625
Entry
+95 p
0.5530
Target 1
Chart & Analyst Comments
