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

May 25, 2022 3:15:47 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6460)
15:15
15:15
May 25, 2022

-60 p
0.6520
Stop Loss
0.6460
Entry
+60 p
0.6400
Target 1
+85 p
0.6375
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The first target is at the level of the previous bottom - 0.64, and the second one, in case of an active price decrease, is at the level - 0.6375
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