NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 0.56519 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 0.56333 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 0.56519 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The 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 | 0.56607 |
| 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