FX.co ★ EURNZD M5: Triple Bottom

The Triple Bottom pattern has formed on the chart of EURNZD M5. The lower boundary is at 1.9660, while the upper boundary is at 1.9668/1.9667. The projected width is 9 points. The formation of the Triple Bottom pattern most likely indicates a change from a downward to an upward trend. If the confirmation resistance at 1.9668 is broken, the price is likely to continue upward.