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The market has stabilized, the first signs of a downtrend appeared

January 25, 2022 11:09:58 AM by Alex Zarevich
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6710)
11:07
11:07
Jan. 25, 2022

-65 p
0.6775
Stop Loss
0.6710
Entry
+65 p
0.6645
Target 1
+90 p
0.6620
Target 2
Chart & Analyst Comments
main-sell-trend-2
  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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The first target is at the level of the previous bottom - 0.6645, and the second one, in case of an active price decrease, is at the level - 0.662
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