NZDUSD - Upward trend will continue, Long trade by market price recommended
January 27, 2021 8:29:13 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.716)
+90 p
0.7315
Target 2
+60 p
0.7285
Target 1
0.7225
Entry
-65 p
0.7160
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The first target is at the level of the previous peak - 0.7285, and the second one, in case of an active price increase, is at the level - 0.7315
