NZD/USD – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.57001 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.56719 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Up’ candle pattern is detected. The candles form ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.56719 |
| Current Price | 0.56585 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up