NZDUSD: the odds of a turnaround are on the rise.
Updated
Hello, Successful Traders! $-) Our analysis of the situation shows that the market is locally overbought and the current upward momentum is losing steam. It seems that any upcoming downward movement will be relatively moderate in size, while a fresh surge of growth will surpass the peak reached on January 31st.
Furthermore, time also points to the possibility of a reversal. The duration of the downward trend matches closely with the average.
We've decided to enter a sell trade at 0.61372 for the entire trade limit. Our plan is to close the position within the next couple of days.
Furthermore, time also points to the possibility of a reversal. The duration of the downward trend matches closely with the average.
We've decided to enter a sell trade at 0.61372 for the entire trade limit. Our plan is to close the position within the next couple of days.
Trade active
We giving the market another shot and a few days ;-)The bulls have come out on top, surpassing the January 31st peak, but let's not jump to conclusions about their invincibility. We're still expecting a correction to around 0.6100 before seeing a renewed upward push. To capture this potential movement, we've doubled down and opened another sell trade at 0.6182.
Trade closed manually
Hello! We closed our trades at 0.6126, +1.09% (with 1:1 leverage).
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