EURNZD 27 Nov 2023 on the weekly timeframe. It can be seen that this pair still manages to maintain its position above the kumo cloud on the ichimoku indicator. Despite moving sideways between R1 and R2, the pair has not experienced a significant bearish trend that makes its position drop through R1. It is at a price position of 1.80419 down from its previous position at 1.82095. Although the candlestick chart shows a strengthening signal, but if you refer to the stochastic indicator, you can see the possibility of a drop. If bearish is happening then go-short is an option, but if this pair is able to maintain its bullish trend then go-long is the choice. Keep an eye on market movements and calculate all possibilities before making trading decisions.
