The market has stabilized, the first signs of a downtrend appeared

May 18, 2020 7:36:19 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.605)
7:33
7:33
May 18, 2020

-70 p
0.6050
Stop Loss
0.5980
Entry
+64 p
0.5915
Target 1
+90 p
0.5890
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  3. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 0.5915, and the second one, in case of an active price decrease, is at the level - 0.589