NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
A bearish movement down to the next support level at 0.57534 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.57781 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Meeting Lines’ candle pattern is detected. The chart forms ‘Bullish Meeting Lines’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Meeting Lines’ heading up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57781 |
| Current Price | 0.57666 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Meeting Lines