NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.56642 is expected.
Caution: A possible change in the direction of the resistance zone at 0.57220 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 0.57172108 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance zone at 0.57220 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart signal. The currency pair is likely to rise.
Moreover a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a positive chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57551 |
| 2nd High | 0.57360 |
| Next High | 0.57220 |
| Current Price | 0.56988 |
| Next Low | 0.56642 |
| 2nd Low | 0.56624 |
| 3rd Low | 0.56482 |
0.56883 – 0.56801 – 0.57220 – 0.56642 – 0.56624 – 0.56482
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji