NZD/USD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.59235 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 0.59235 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Bullish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59479 |
| 2nd High | 0.59287 |
| Next High | 0.59235 |
| Current Price | 0.59054 |
| Next Low | 0.58147 |
| 2nd Low | 0.57919 |
| 3rd Low | 0.56939 |
0.58915 – 0.59235 – 0.59223 – 0.58147 – 0.58654 – 0.58576 —
0.58743 – 0.59101 —
67.129039126864 – 80.019847604615 —
– —
0.58915 – 1777431600
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing – – – – – – – – –