the eurnzd market has just entered a very crucuial price level , this zone as shown very strong resistance in the past and if it breaks and closes below expect a huge impluse to the down side.
otherwise expect this market to bounce up again and retest the blue trendline.
the market has shown a very aggresive breakout from the linear consolidation channel shown above.
these are strong signs of a retest to the previous structure low (blue trend line)
great short oppurtunity
broke out of the daily trend line forming a flag at the 0.618 fibonacci level which is also a kep price level for this structure. should the market breakout of this zone it will create a very good oppurtunity to sell.
Perfect ratios on this pattern. confirmation of the buy setup is the D leg completing in the structure support level exactly at the .786 fib also RSI is in an over sold condition and showing bullish divergence on lower time frames.