NZD/USD – 30M – BUY

The currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards

An ascent up to the next resistance line at 0.5816 is considered certain.

Caution: A possible reversal of the trend in the direction of the support level at 0.57365 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘RSI cross above 70 (63.773600350385/70.772849539839)’ indicator layout is detected. The indicator shows ‘RSI cross above 70 (63.773600350385/70.772849539839)’. which could be a positive chart signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 0.58191648 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.5816 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The 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).

0.57869 – 0.5816 – 0.58447 – 0.57365 – 0.58008 – 0.581 —
63.773600350385 – 70.772849539839 —
75.981546917943 – 100 – 62.937255254533 – 77.68071369367

Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Head and Shoulder chart pattern – –