NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 0.57965 is expected.
Caution: A possible change in the direction of resistance at 0.58675 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 0.5866454 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of resistance at 0.58675 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is found. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58838 |
| 2nd High | 0.58688 |
| Next High | 0.58675 |
| Current Price | 0.58534 |
| Next Low | 0.57965 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers