NZD/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 0.56612956 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of resistance at 0.56844 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bullish Belt Hold’ candlestick chart pattern is found. The candles show ‘Bullish Belt Hold’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56844 |
| Current Price | 0.56451 |
| Next Low | 0.56306 |
| 2nd Low | 0.55930 |
| 3rd Low | 0.55927 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold