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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairNZDUSD
Publication Time10/11/22 6:17 PM
Direction Sell
Status Closed (0.5625)
18:17
18:17
Oct. 11, 2022
Forecast
-95 p
0.5720
Stop Loss
0.5625
Entry
+95 p
0.5530
Target 1
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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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