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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairNZDUSD
Publication Time4/20/23 7:00 AM
Direction Sell
Status Closed (0.6130)
7:00
7:00
Apr. 20, 2023
Forecast
-50 p
0.6225
Stop Loss
0.6175
Entry
+50 p
0.6125
Target 1
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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. Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 0.6125
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