NZD/USD – 4H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance line at 0.58886 is certain.
Caution: A possible trend reversal in the direction of the support line at 0.58285 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.591695 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.58886 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candle chart pattern is detected. The candles form ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.58603 |
| Next Low | 0.58285 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up