NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
An ascending movement up to the next resistance line at 0.56519 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 0.56333 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.56519 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candle chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56607 |
| 2nd High | 0.56538 |
| Next High | 0.56519 |
| Current Price | 0.56483 |
| Next Low | 0.56333 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers