NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
A bearish descent down to the next support level at 0.59342 is expected.
Caution: A possible change in the direction of the resistance zone at 0.60121 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.597835 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 0.60121 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick chart pattern is detected. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60291 |
| 2nd High | 0.60225 |
| Next High | 0.60121 |
| Current Price | 0.59645 |
| Next Low | 0.59342 |
| 2nd Low | 0.59136 |
| 3rd Low | 0.58932 |
0.60121 – 0.60225 – 0.59904 – 0.59342 – 0.59882 – 0.59634
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji