NZD/USD – 4H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
A bearish movement downwards to the next support at 0.57965 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.58886 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Current target is 0.58533524 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.58886 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish SBS White Lines’ candle chart pattern is discovered. The chart shows ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.57982 |
| Next Low | 0.57965 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish SBS White Lines