NZD/USD – 30M – BUY

The currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline upwards

A continuation of the bullish trend upwards to the next resistance line at 0.59456 is certain.

Caution: A possible counter-trend in the direction of the support level at 0.58725 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which could be a positive chart signal. The currency pair is likely to rise.

Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.59294178 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of resistance at 0.59456 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Up’ chart pattern is discovered. The candles show ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

0.59456 – 0.59481 – 0.59328 – 0.58725 – 0.59017 – 0.59004 —
0.59003 – 0.58981 —
47.25017054319 – 47.640816536798 —
– —
0.59456 – 1772708400

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up – – – – – – – – –