NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards
A bullish ascent upwards to the next resistance line at 0.58762 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.58038 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Bearish SBS White Lines’ candle pattern is detected. The chart forms ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58762 |
| Current Price | 0.58657 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish SBS White Lines