EURNZD is currently in a downtrend that doesn't seem to stop. If it makes a lower low, I believe we are good to go. It has rejected the 50% fibo level, which corresponded with the 1.6650 psychological level, has made a lower high, and the corrections are getting shorter.
Comment:
The price did not break the previous high, so the setup is still available. Had I entered a position, I would've had my sl a couple of pips above the previous high, so it would not have been broken.
Order cancelled:
The price did not make a lower low, so this setup is no longer available.