NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline up.
An ascent up to the next resistance at 0.57926 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Three Outside Up’ candlestick pattern is existing. The candles form ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.57453 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up