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

June 3, 2019 11:29:35 AM by Patrick Yang
Forecast Details
Direction Sell
StatusClosed (0.6660)
Jun. 3, 2019
Jun. 10, 2019

-100 p
Stop Loss
+100 p
Target 1
Chart & Analyst Comments

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

  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 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.
    index: 1x 0.035995006561279s
t_/pages/forecast: 1x 0.032071828842163s
t_/common/header-new: 1x 0.020328044891357s
t_/common/head: 1x 0.016754865646362s
t_/common/footer-new: 1x 0.0025601387023926s
router_page: 1x 0.0018360614776611s
router: 1x 0.00085592269897461s
t_/popups/on-download: 1x 0.00049805641174316s
service-routes: 1x 0.0003199577331543s
router_redirection: 1x 0.00015497207641602s
t_/popups/zoom: 1x 1.5020370483398E-5s
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