NZD/USD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 0.59951 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.59709 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bullish Engulfing’ chart pattern is discovered. The candles form ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60527 |
| 2nd High | 0.6003 |
| Next High | 0.59709 |
| Current Price | 0.59632 |
| Next Low | 0.59420 |
| 2nd Low | 0.59375 |
| 3rd Low |
0.59709 – 0.6003 – 0.599 – 0.59420 – 0.59471 – 0.59375 —
0.59556 – 0.59663 —
42.403449630865 – 52.57468528027 —
0.59420 – 1771948800 —
0.59709 – 1771909200
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing – – – – – – – – –