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

September 17, 2020 2:36:33 PM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (0.6790)
Sep. 17, 2020

+90 p
Target 2
+65 p
Target 1
-70 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 increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.
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