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

December 15, 2021 7:52:27 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6800)
7:48
7:48
Dec. 15, 2021

-55 p
0.6800
Stop Loss
0.6745
Entry
+55 p
0.6690
Target 1
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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
  4. MVP line is above the price and acts as a resistance level.
  5. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 0.669
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