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

August 26, 2022 2:54:37 PM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6115)
14:54
14:54
Aug. 26, 2022

-65 p
0.6240
Stop Loss
0.6175
Entry
+60 p
0.6115
Target 1
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. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 0.6115
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