The market has stabilized, the first signs of an uptrend appeared
July 23, 2019 6:19:41 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.676)
+60 p
0.6820
Target 1
0.6760
Entry
-65 p
0.6695
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.
- 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.
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.