NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A descent downwards to the next support level at 0.57585 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.57859 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Matching Low’ chart pattern is detected. The candles show ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57859 |
| Current Price | 0.57788 |
| Next Low | 0.57585 |
| 2nd Low | 0.57534 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low