NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance line at 0.56593 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 0.56211 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 0.56593 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.56593 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56570 |
| Next Low | 0.56211 |
| 2nd Low | 0.56134 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers