NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance at 0.58754 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.58359 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.58727634 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.58754 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candlestick pattern is found. The candles show ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58828 |
| 2nd High | 0.58803 |
| Next High | 0.58754 |
| Current Price | 0.58706 |
| Next Low | 0.58359 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers