The market has stabilized, the first signs of an uptrend appeared

July 23, 2019 6:19:41 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.676)
6:10
6:10
Jul. 23, 2019

+60 p
0.6820
Target 1
0.6760
Entry
-65 p
0.6695
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared

Sharp downward move provoked sellers to action, but having made a deceptive manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. 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 going only long at this time.
  2. The Profit Ratio indicator doesn't react on upward movement. This means that the movement is not fake.
  3. Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the long orders.