EURNZD 9 Oct 2023 on the daily timeframe. It can be seen that the pair is below the kumo cloud on the ichimoku indicator. Having been bearish since last month the pair is still unable to reverse the trend to bullish and strengthen. When referring to the stochastic indicator, the chart shows that the bearish trend may still continue. Therefore, go-short is still an option. But if this pair is able to reverse the trend when it touches the S1 line and then experiences bullishness, go-long can be an option for traders. Keep an eye on market movements, learn other indications before making trading decisions.
