NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
The bearish trend downwards to the next support level at 0.56306 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.56922 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.56091198 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of support at 0.56922 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Southern Doji’ chart pattern is found. The candles form ‘Southern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56922 |
| Current Price | 0.56344 |
| Next Low | 0.56306 |
| 2nd Low | 0.55930 |
| 3rd Low | 0.55927 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Southern Doji