The corrective structure on EURNZD daily chart
has broken to the upside but does that mean that it is time to jump into this trade? In my opinion we need to wait for confirmation of direction before entry. I am expecting to see a flag formation
at this level on the H4 time frame which if it breaks up, I will enter the long. The possibility still exists that we will see a bearish
formation with a break to the downside and a completion of the next wave down on the larger time frame. I am leaning towards the long at this point in time but will wait for confirmation before entering.
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