NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance level at 0.59216 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 0.58151 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 0.58812 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.59216 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candlestick chart pattern is found. The chart shows ‘Three White Soldiers’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59722 |
| 2nd High | 0.59470 |
| Next High | 0.59216 |
| Current Price | 0.58926 |
| Next Low | 0.58151 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers