EURNZD Technical Chart – Forex

Although EURNZD currency pair is moving up from last so many days but 2 things on its daily chart are not supporting this move.

Here is the daily technical chart of EURNZD. I've put Ichimoku, Donchian Channel (Dotted blue line) and Aroon indicators. Dark blue line is Kijun-Sen of Ichimoku.

As indicated by Aroon indicator, the price will come to its first support level viz. Donchian line @1.830 in coming days. If Kijun-sen line of Ichimoku indicator stays flat even then, as it's now, it will come to level of Kijun-Sen @1.8025.

Flat lines always attract price.  That's the basic rule of using Ichimoku.

Do you like this post? Subscribe to our Free! newsletter to get updated. Just enter your email address

Incoming search terms:

• donchian channels
• FOREX GIF

You might also like:

• Doda-Donchian Indicator with stop-loss feature
• Support levels of Dow Jones | 23-Mar-2011
• Bullish Kumo Breakout on IBM Technical Chart | NYSE | 29-June-2011
• Positive signs on European Indices | 12-Sep-2011
• Abovenet Inc (ABVT) Technical chart | NYSE | 04-Jan-2012
• Forex Trading Guide and Tips - Daily