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