EURNZD: Potential bearish reversal

Hi, the pair has shown a failed to breakout the downtrend line on the chart. So we can imagine that the multiple long shadows oh the candlestick daily announce a bearish situation. I think that the price will fall at least until 1.6850 the maybe more possibly until the uptrend line that we can see on the chart.
The strategy will be invalidated if the price breaks out the downtrend line daily.

Hope this helps !

Comment:

Trend lines are magic. The setup was perfect here. Price has fallen as expected.