We're back in the again, and the is now rising from being oversold. Moving average is still pointing up.
In terms of risk, the price has moved quite a bit lately, so how much further it has to go is debatable. The NZ$$ has fallen a lot since August, and may find some support. The Euro is also seems to be pointing lower, at least for now. Plus, we have what looks suspiciously like a pattern, possibly signalling a further move lower.
Therefore, I am trading this with a buy stop limit order. I've placed the entry price quite close to the current price action because the best I am hoping for is a continuation of the range. Any further away, and there probably isn't much point in doing this.
Also, I am trading the Dow Jones expecting a new all time high if the NFP does turn out to be strong, so I see little point in trading both the Dow and this.
EURNZD is currently going sideways, no doubt waiting for the NFP result. Will look next week at what happens (probably EURNZD will fall), and try again if possible.