NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
An ascent up to the next resistance line at 0.56519 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.56333 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.56519 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ candlestick chart pattern is detected. 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 chance of ‘Three White Soldiers’ going 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