The market has stabilized, the first signs of a downtrend appeared

March 31, 2020 7:56:38 AM by Alexander Zorevyk
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.587)
7:54
7:54
Mar. 31, 2020

-75 p
0.6025
Stop Loss
0.5950
Entry
+80 p
0.5870
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

For this forecast, we recommend to set Sell Limit at the following price - 0.595. This idea is based on the following analysis:

  1. 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.
  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. Set Take profit at the local price minimum.