EURNZD possible to start downtrend.
On this weekly chart we can see how price rejected from the 71.00 Fib. creating a nice legit shooting star pattern as a sign of reversal. Since the moving average is also still bearish imma wait to see how this pair reacts once the markets open at Sunday night. A clear break and close below the monthly support of 1.6700 would be a nice confirmation for the downtrend, however, I could still see price to test the highs again around 71.00-61.80 Fib. before turning around and break below. Possibly creating a 3-pin bar pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.