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

March 12, 2021 7:59:01 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.7190)
7:56
7:56
Mar. 12, 2021

+90 p
0.7280
Target 2
+60 p
0.7250
Target 1
0.7190
Entry
-65 p
0.7125
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on NZDUSD. As a result, we recommend considering only Long trades at this time.
  2. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. An increase of NZDUSD price is expected.
  3. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 0.725, and the second one, in case of an active price increase, is at the level - 0.728
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