NZDUSD - Downward trend will continue, Short trade by market price recommended
May 20, 2021 10:00:48 AM
Forecast Details
PairNZDUSD
Direction
Sell
StatusClosed (0.7175)
-60 p
0.7235
Stop Loss
0.7175
Entry
+65 p
0.7110
Target 1
+85 p
0.7090
Target 2
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- 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
