NZD/USD – 1H – BUY

The currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.

A bullish movement upwards to the next resistance at 0.56153 is expected.

Caution: A possible change in the direction of the support level at 0.55823 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.563385 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 0.56153 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

0.56153 – 0.56384 – 0.56747 – 0.55823 – 0.55791 – 0.55896 —
0.56141 – 0.56086 —
54.354297013908 – 45.254597291694 —
– —
0.56153 – 1763766000

Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Double bottom chart pattern – – – – – – – –