EURNZD: Potential Long Trade Explained 🇪🇺🇳🇿
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EURNZD is trading in a strong bullish trend from the beginning of April.
Higher lows are perfectly respecting a rising trend line on a daily.
After setting a new high, the price retraced to a trend line again.
Pay close attention to a horizontal trading range on 4H.
Wait for a bullish breakout of its 1.6635 - 1.6685 resistance to catch a bullish movement.
You need a 4H candle close above to confirm a breakout.
Target will be 1.6817.
If the price breaks a trend line to the downside, the setup will be invalid and a bearish continuation will be expected.
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