EURNZD 17 Apr 2024 In the analysis of EURNZD on the daily timeframe, it can be seen that the pair is experiencing a trend reversal after experiencing a bullish trend since the beginning of this week. The pair bounced down after touching the resistance line, bringing the pair to a price position of 1.79941 today. However, the pair is still above the Kumo Cloud, signaling that the long-term trend may still be bullish. In addition, the moving average on the Stochastic Indicator is also still heading towards the 80 level, indicating that the bullish momentum is still strong. Therefore, even if there is a trend reversal in the shorter term, the long-term bullish trend may persist. Traders may want to look for buying opportunities upon further confirmation of the price movement and observe proper risk management.
