NZD/USD – 30M – BUY

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

The bullish trend up to the next resistance line at 0.58915 will continue.

Caution: A possible reversal of the trend in the direction of the support zone at 0.58147 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Current target is 0.58691 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.58915 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.

0.58915 – 0.58898 – 0.59173 – 0.58147 – 0.5856 – 0.58743 —
0.58320 – 0.58348 —
35.500618501597 – 45.52063616766 —
– —
0.58915 – 1777431600

Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers – – – – – – – – –