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

November 29, 2021 10:50:52 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.6790)
10:47
10:47
Nov. 29, 2021

-50 p
0.6885
Stop Loss
0.6835
Entry
+50 p
0.6785
Target 1
+65 p
0.6770
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of NZDUSD price is expected.
  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 - 0.6785, and the second one, in case of an active price decrease, is at the level - 0.677
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