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

June 3, 2019 11:29:35 AM by Patrick Yang
Forecast Details
PairNZDUSD
Direction Sell
StatusClosed (0.666)
Start
End
Jun. 3, 2019
Jun. 10, 2019

-100 p
0.6660
Stop Loss
0.6560
Entry
+100 p
0.6460
Target 1
Chart & Analyst Comments
NZDUSD - Downward trend will continue, Short trade by market price recommended

We are expecting downward trend to continue for NZDUSD currency pair. Short trades only. See below for the summary of analysis:

  1. The Current Ratios indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.