EURNZD is currently in a major ABC (probably parallel) ascending correction.
We've completed waves A and B. We are now in Wave C = 5 waves. We've almost completed wave 1. The next move is the wave 2 lower.
Trade Idea: - Watch for the red trendline to break to confirm wave 2 has started - Enter with stops above wave 1 - Target 1.64 (400pips) but slowly taper positions off as we're moving lower