Our recommendation for this currency is a sell recommendation! Here are the reasons:
1. The trend is a distinct downward trend. We see this in the graph above that each round of increases is smaller than the previous one.
2. The eurnzd candles are below the cloud, the blue line is above the red line, we have a bearish cloud, all of which are from Ichimoku indicator that indicates a sales signal.
3. We are below the important Moving averages (100,200).
At 1.6350 there is technical support and probably the eurnzd is going to go.
Sell EURNZD:
Entry Price:1.6530
Take Profit: 1.6350
Stop Loss:1.6620
1. The trend is a distinct downward trend. We see this in the graph above that each round of increases is smaller than the previous one.
2. The eurnzd candles are below the cloud, the blue line is above the red line, we have a bearish cloud, all of which are from Ichimoku indicator that indicates a sales signal.
3. We are below the important Moving averages (100,200).
At 1.6350 there is technical support and probably the eurnzd is going to go.
Sell EURNZD:
Entry Price:1.6530
Take Profit: 1.6350
Stop Loss:1.6620