EURNZD finishing a daily consolidation, then buy!

FX:EURNZD   Euro / New Zealand Dollar
319 0 11
I only posted once a EURNZD             chart but I believe that this pair will give us some nice trading opportunities in the near future.

I'm looking for an ABC correction with wave C currently in progress. We are testing the low for what I counted to be the low for wave A. For the support/resistance traders; we either see a bounce (probably short lived) or a break, in either case this will result in a consolidation above or below the non-horizontal trend line . I will be looking for the end of the consolidation and use this support/resistance in my favor by trading the next move based on structure. In terms of wave count I expect this consolidation around the low for wave A to be a wave 4 of wave C.

Updates will follow.


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