NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance at 0.56593 will continue.
Caution: A possible counter-trend in the direction of the support line at 0.56123 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Current target is 0.56421 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.56593 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ candle chart pattern is detected. The candles form ‘Three White Soldiers’. this is a bullish 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56314 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers