Hello traders, welcome back to another market breakdown.
EURNZD is trading in a down trend. However, the monthly chart is in a bullish trend where the measured move pullback has been reached and the price had aggressive bulls buying, that can indicates a new trading range is under development which can lead to a major a trend reversal.
Bulls want a lower high followed with a surpise bar closing at their highs to signal more aggresive longs.
Checkout the chart to have an idea on what I'll be waiting for before going long for a long term setup.