NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline upwards
An ascent upwards to the next resistance level at 0.56519 will continue.
Caution: A possible trend reversal in the direction of the support level at 0.56333 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 0.56519 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘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