NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.57609 will continue.
Caution: A possible change in the direction of the resistance line at 0.58171 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.57908248 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance line at 0.58171 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Outside Up’ candle pattern is existing. The candles form ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58171 |
| Current Price | 0.57635 |
| Next Low | 0.57609 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up