- 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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- MVP line is above the price and acts as a resistance level.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.
NZDUSD - Downward trend will continue, Short trade by market price recommended
January 19, 2022 9:49:24 AM
Forecast Details
PairNZDUSD
Direction
Sell
StatusClosed (0.6770)
-75 p
0.6865
Stop Loss
0.6790
Entry
+65 p
0.6725
Target 1
+90 p
0.6700
Target 2
Chart & Analyst Comments
