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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairNZDUSD
Publication Time8/22/23 11:44 AM
Direction Sell
Status Closed (0.5930)
11:44
11:44
Aug. 22, 2023
Forecast
-65 p
0.6020
Stop Loss
0.5955
Entry
+65 p
0.5890
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on NZDUSD. As a result, we recommend considering only Short trades at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. MVP line is above the price and acts as a resistance level.
  4. We are focused on the breakdown of the previous bottom, the target at the level of 0.589.
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