The market has stabilized, the first signs of a downtrend appeared
March 31, 2020 7:56:38 AM
Forecast Details
PairNZDUSD
Direction
Sell
StatusClosed (0.587)
-75 p
0.6025
Stop Loss
0.5950
Entry
+80 p
0.5870
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
For this forecast, we recommend to set Sell Limit at the following price - 0.595. This idea is based on the following analysis:
- According to the most brokers’ data, more than half of the traders are currently in long positions on NZDUSD. As a result, we recommend considering only Short trades at this time.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- Set Take profit at the local price minimum.
