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

November 12, 2019 3:02:36 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.639)
14:55
14:55
Nov. 12, 2019

-60 p
0.6390
Stop Loss
0.6330
Entry
+60 p
0.6270
Target 1
Chart & Analyst Comments
NZDUSD - Downward trend will continue, Short trade by market price recommended

Take a medium-term trade using the Market Order. The trend will likely breakthrough the next resistance level.

  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
  2. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  4. MVP line is above the price and acts as a resistance level.