NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline upwards
An ascending movement up to the next resistance at 0.57781 is likely expected.
Caution: A possible change in the direction of the support level at 0.57552 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Current target is 0.57698084 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 0.57781 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The candles form ‘Bearish SBS White Lines’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57781 |
| Current Price | 0.57577 |
| Next Low | 0.57552 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish SBS White Lines