NZD/USD – 30M – BUY

The combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.

A bullish trend upwards to the next resistance level at 0.56069 is considered certain.

Caution: A possible counter-trend in the direction of the support zone at 0.55791 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.

Moreover a ‘MACD crosses above signal’ indicator signal is found. The indicator shows ‘MACD crosses above signal’. which could be a positive chart scenario. The currency pair is likely to rise.

Moreover a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which is often a bullish chart scenario. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 0.56111 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.56069 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

0.56069 – 0.56384 – 0.56145 – 0.55791 – 0.55896 – 0.56276 —
0.56069 – 0.55913 —
58.13716763364 – 39.734350323861 —
0.56069 – 1763721000 —
– 1763721000

Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Double top chart pattern – – – – – – – –