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NZDUSD 1 Mar 2024

NZDUSD 1 Mar 2024 on the daily timeframe, the pair is experiencing bearish trend that brought it down until it broke the Kumo cloud on the ichimoku indicator. Occupying a price position of 0.61976 last week, the pair is now at a price position of 0.60943 after successfully reversing the trend from bearish to bullish. If referring to the stochastic indicator which appears to have been oversold in the previous session, as well as the moving average chart which shows an upward signal, then go-long can be an option if the bullish trend continues. But if the opposite happens, then the pair declines again until it breaks the support line, then go-short is an option. Pay attention to many indicators and be wary of market changes before making trading decisions.

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