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

June 15, 2020 3:22:41 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.6495)
15:21
15:21
Jun. 15, 2020

+60 p
0.6495
Target 1
0.6435
Entry
-60 p
0.6375
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Majority of traders are still holding onto Shorts. This means we should continue to Buy NZDUSD.
  2. Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
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