The market has stabilized, the first signs of a downtrend appeared

May 14, 2020 6:43:09 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.5985)
6:41
6:41
May 14, 2020

-65 p
0.6075
Stop Loss
0.6010
Entry
+60 p
0.5950
Target 1
+100 p
0.5910
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. MVP line is above the price and acts as a resistance level.
  5. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.