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NZDUSD 1 Feb 2024

NZDUSD 1 Feb 2024 on the Daily timeframe, the pair looks sideways moving and is starting to enter the kumo cloud on the ichimoku indicator. Although there is a bullish signal on the candle chart but if referring to the stochastic indicator, it seems that the chart shows that there will be a decline due to the crossing of two moving averages. If bearish is true, then go-short could be an option for traders. But if this pair is able to reverse the trend and return bullish towards R2, then go-long is an option. Keep an eye on market movements and consider all possibilities before making trading decisions.

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