NZDUSD - Upward trend will continue, Long trade by market price recommended
February 16, 2021 4:35:12 PM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.721)
+75 p
0.7285
Target 2
+55 p
0.7265
Target 1
0.7210
Entry
-55 p
0.7155
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 0.7265, and the second one, in case of an active price increase, is at the level - 0.7285
