NZD/USD – 1H – BUY

Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.587035 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.5926 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Shooting Star’ candlestick pattern is existing. The chart shows ‘Shooting Star’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

0.5926 – 0.59244 – 0.59101 – 0.58563 – 0.58865 – 0.58147 —
0.58838 – 0.59054 —
51.427585042734 – 67.580835281456 —
– —
0.5926 – 1777874400

Trading Signals: FOREX – NZD – NZD/USD – USD – Shooting Star – – – – – – – – –