EURNZD - 4hr Timeframe - Short Opportunity

EURNZD should not go on and complete the "C" leg of a running flat pattern it has been forming in the past few months. A long corrective structure that seems in it's final stages, before resuming the main uptrend. More in detail the pair has broken a minor degree ending diagonal to the upside - a very short lived movement, and now seems to be forming a 4hr flag preparing for more downside. In our view, the pair should go to at least break the previous low at 1.6531, as that would formally complete the running flat.
From this moment on therefore, we will be looking for sell setups, on this pair: watch out for an entry point on the break to the downside of the minor trend. For a more conservative approach, wait for a first impulse to the downside, wait for a small correction of said impulse on the 60min timeframe, and sell the break of said correction with a stop loss above it.

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