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NZDUSD - Upward trend will continue, Long trade by market price recommended

October 28, 2021 5:39:05 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.7175)
5:36
5:36
Oct. 28, 2021

+65 p
0.7240
Target 2
+45 p
0.7220
Target 1
0.7175
Entry
-45 p
0.7130
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. MVP line is below the price and acts as a support level.
  5. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
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