EURNZD M5 Triple Bottom

The Triple Bottom pattern has formed on the chart of EURNZD M5. The lower boundary is at 1.9896, while the upper boundary is at 1.9914/1.9910. The projected width is 18 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 1.9914 is broken, the price is likely to continue upward.