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

August 23, 2021 5:24:18 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6925)
5:22
5:22
Aug. 23, 2021

-80 p
0.6925
Stop Loss
0.6845
Entry
+70 p
0.6775
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. A significant cluster of buyers is above the current price, this is evidenced by a sharp increase in Profit Ratio every time the price rises. Upward movement is difficult, correction is possible.
  3. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
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