EURNZD Long following uptrend wedge and failure to break 50 EMA

9 Mar 2017

This pair is close to a breakout as can be seen by the uptrend wedge that I have drawn on the chart. Currently showing consolidation at the lower parallel trend line, and is failing to break the 50 EMA line despite the last few attempts. My analysis shows that this is a good setup for a long position.