NZD/USD – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 0.567225 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.56607 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57369 |
| 2nd High | 0.56719 |
| Next High | 0.56607 |
| Current Price | 0.56478 |
| Next Low | 0.56411 |
| 2nd Low | 0.56123 |
| 3rd Low | 0.56076 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up