NZDUSD 16 Nov 2023 on Daily Timeframe. It can be seen that this pair is still unable to get out of the kumo cloud and penetrated S1. after experiencing a significant bullish, starting from the position of 0.58765 this pair briefly touched S1 at the price position of 0.60545 before finally bouncing back down. If referring to the stochastic indicator there is a possibility that the bearish will continue therefore go-short can be an option. But on the contrary, if there are factors that are able to make this pair reverse the trend again then go-long is an option. learn many indicators before making trading decisions.
