NZDUSD - Downward trend will continue, Short trade by market price recommended
February 19, 2020 7:19:17 AM
Forecast Details
PairNZDUSD
Direction
Sell
StatusClosed (0.6345)
-50 p
0.6440
Stop Loss
0.6390
Entry
+50 p
0.6340
Target 1
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 long positions on NZDUSD. As a result, we recommend considering only Short trades at this time.
- 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.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.