NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance line at 0.56519 will continue.
Caution: A possible counter-trend in the direction of the support level at 0.56333 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 0.56519 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56607 |
| 2nd High | 0.56538 |
| Next High | 0.56519 |
| Current Price | 0.56483 |
| Next Low | 0.56333 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers