This is the eur/nzd 1hr chart; as you can see we had an ascending channel, which was broken to the upside, and theoretically, if we see a breakout to the upside during an ascending channel, there's a good chance it could be a false breakout (although there are cases when it's not a false breakout, of course). So here things are like this: the price broke the channel to the upside and after a few sessions it closed again inside the channel, and here we also have the 1st lower low, so it is logical to look for some shallow retracement and go short. However, anything can happen, so protect yourself as soon as possible. Remember we have the ECB meeting next week so try not to fall into the speculation traps.