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NZDUSD - Upward trend will continue, Long trade by market price recommended

July 21, 2020 6:00:06 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (0.6640)
Jul. 21, 2020

+75 p
Target 2
+50 p
Target 1
-55 p
Stop Loss
Chart & Analyst Comments
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to Buy Orders.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The SLC indicator displays a cluster of Stop Losses and Stop orders at the previous high level, which according to our forecast, is good for placing Take Profit.
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