EURNZD 7 Sep 2023 on the H1 timeframe. The pair experienced a trend reversal after almost touching the Resistance line becoming bearish. Although the pair is currently still above the kumo on the ichimoku indicator, but if you refer to the stochastic indicator, it seems that the bearish may still continue because it has been in the saturated zone due to overbought. If the bearish trend does continue, then go-short is an option for traders. Otherwise, if there are factors that can change or this pair is able to reverse the trend again, then go-long can be an option. Keep an eye on market changes and movements, learn many indicators before making trading decisions.
