NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A descending movement down to the next support level at 0.55927 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.56104 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.561635 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.56104 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two-Candle Shooting Star’ chart pattern is detected. The candles show ‘Two-Candle Shooting Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56462 |
| 2nd High | 0.56243 |
| Next High | 0.56104 |
| Current Price | 0.56027 |
| Next Low | 0.55927 |
| 2nd Low | 0.55865 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Two-Candle Shooting Star