NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance level at 0.56519 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.56333 is also possible.
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 is certain. Target of the current trend is 0.565175 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.56519 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading 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