EUR/NZD 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
It did not look like EUR/NZD was forming a falling wedge on the hourly chart until just recently when the last wave lost amplitude to the upside and three decent confirmations on each side led to an upward breakout. The pair has set a solid ground at 1.5284, the 20-hour EMA and has been adjusting its movements to respect the line perfectly. The pair has not yet retraced, so we set our target below around 1.5240, the upper trend-line of the wedge, and will look for a surge after that. It cannot, however, be eliminated that the surge starts immediately, setting eye on 1.5315 or the red cloud resistance above.
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