Currency pair Euro to New Zealand Dollar EUR/NZD is trading at 1.5872. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Euro/New Zealand Dollar. Ichimoku Kinko Hyo Cloud near the level 1.5920 is expected to be tested below, from which we should expect an attempt to fall and develop a bearish tendency for a pair with the target of lowering near the level of 1.5610.
EUR/NZD forex forecast on June 2, 2017
Earlier, a weak signal was received for the sale of the currency pair Euro to New Zealand Dollar EUR/NZD, due to the crossing of signal lines at 1.6130. The cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.5990, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations EUR/NZD stands with the breakdown of the local minimum area at 1.5655.
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