NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
The bearish trend down to the next support line at 0.56076 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.57369 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Up’ candlestick pattern is detected. The candles form ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.57677 |
| Next High | 0.57369 |
| Current Price | 0.56482 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up