The most interesting pair you can make money with - EUR/NZD

EUR/NZD: bullish ranging. The pair is bullish on market condition: price is located above Ichimoku cloud in the primary bullish area of the chart with the local downtrend as the secondary correction breaking 1.6017 support level and 1.5797 key reversal support level from above to below for the bearish reversal to be started. Chinkou Span line is located near and above the price in full readiness to break it to below for good possible breakdown.

The price is ranging within the following key reversal support/resistance levels:

• 1.7838 resistance level located above Ichimoku cloud in the primary bullish area of the chart, and
• 1.3877 support level located far below Ichimoku cloud in the bearish area of the chart.
  

There are 3 simple scenarios for the price movement for the week and in a long-term situation:

• bearish breakdown in case the price breaks 1.5797 support on close weekly bar with the bearish reversal to be started with the secondary ranging,
  
• bullish trend to be continuing in case the price breaks 1.7838 resistance from below to above,
• or the ranging within the levels.