NZD/USD – 1H – BUY

The currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.

A descent down to the next support level at 0.59279 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 0.59863 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.59279 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 0.59863 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

0.59863 – 0.59819 – 0.60007 – 0.59279 – 0.59481 – 0.59410

Download NZD/USD Signal Image

Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji