NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.58635 will persist.
Caution: A possible change in the direction of the resistance zone at 0.59109 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candle chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59286 |
| 2nd High | 0.59279 |
| Next High | 0.59109 |
| Current Price | 0.58830 |
| Next Low | 0.58635 |
| 2nd Low | 0.58151 |
| 3rd Low | 0.57965 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers