I thought this pattern might interest head and shoulder traders even if you don't normally trade EURNZD

The EURNZD chart recently put the writing on the wall as a possible turn around situation with good bullish divergence between the MACD indicator and price  (rising lows in MACD with price still making lower lows)

As shown on the chart below, this now sees EURNZD parked just below the neck line of a bullish head and shoulder pattern. A break through the neck line would complete the pattern and indicate the possibility of higher prices to come.

There's some significant Euro data due over the next couple of days including German CPI data tonight followed by Eurozone CPI and unemployment data tomorrow night so this could be a chart for the active watch list

EURNZD CFD 4 hour Click to Enlarge EURNZD CFD 4 hour
Click to Enlarge