NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
An ascending movement upwards to the next resistance at 0.56519 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 0.56333 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.56519 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candle pattern is found. The chart shows ‘Three White Soldiers’. 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 success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56607 |
| 2nd High | 0.56538 |
| Next High | 0.56519 |
| Current Price | 0.56483 |
| Next Low | 0.56333 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers