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The market has stabilized, the first signs of an uptrend appeared

November 20, 2020 10:08:56 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.691)
10:06
10:06
Nov. 20, 2020

+90 p
0.7000
Target 2
+65 p
0.6975
Target 1
0.6910
Entry
-65 p
0.6845
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on NZDUSD. As a result, we recommend considering only Long trades at this time.
  2. The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 0.6975, and the second one, in case of an active price increase, is at the level - 0.7