EURNZD Long Opportunity

EURNZD is looking to be forming a stagnant price channel in which price is bouncing around. It is expected price will break down eventually from this channel so be conservative.

We will be looking to get in long here as price potentially reverses upwards to the upper resistance.

If price breaks down through the support at the base we can still get in long once more, but note that price will be expected to venture down through that support eventually and continue the downtrend on the higher time frames - Therefore wait for confirmation of support before getting in.