NZD/USD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 0.57684332 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 0.57926 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish SBS White Lines’ chart pattern is detected. The candles show ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.57538 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish SBS White Lines