EURNZD 15 Feb 2024 on the weekly timeframe. The pair seems to be entering the kumo cloud on the ichimoku indicator after trying to initiate bullishness in the previous weeks but bouncing back to bearish. However, it appears that the pair is again trying to initiate bullish trend. If the bullishness continues to take the pair out of the kumo cloud, then go-long could be an option for traders. But if the pair fails to continue bullish and returns to bearish as shown in the stochastic indicator which chart still shows a decline then go-short is an option. Keep an eye on volatile market movements before making trading decisions.
