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NZDUSD - Downward trend will continue, Short trade by market price recommended

January 19, 2022 9:49:24 AM by Alex Zarevich
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6770)
9:39
9:39
Jan. 19, 2022

-75 p
0.6865
Stop Loss
0.6790
Entry
+65 p
0.6725
Target 1
+90 p
0.6700
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. MVP line is above the price and acts as a resistance level.
  5. 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.
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