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

May 20, 2021 10:00:48 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.7175)
9:59
9:59
May 20, 2021

-60 p
0.7235
Stop Loss
0.7175
Entry
+65 p
0.7110
Target 1
+85 p
0.7090
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The first target is at the level of the previous bottom - 0.711, and the second one, in case of an active price decrease, is at the level - 0.709
    index: 1x 0.038419961929321s
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