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

November 16, 2020 8:50:26 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (0.6900)
Nov. 16, 2020

+90 p
Target 2
+65 p
Target 1
-65 p
Stop Loss
Chart & Analyst Comments
  1. 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.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 0.6945, and the second one, in case of an active price increase, is at the level - 0.697
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