NZDUSD - Upward trend will continue, Long trade by market price recommended
May 22, 2020 6:04:45 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.614)
+75 p
0.6180
Target 2
+50 p
0.6155
Target 1
0.6105
Entry
-55 p
0.6050
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- The first target is at the level of the previous peak - 0.6155, and the second one, in case of an active price increase, is at the level - 0.618
