NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.56349 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.56519 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.56213602 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 0.56519 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Matching Low’ candle chart pattern is existing. The chart shows ‘Matching Low’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56519 |
| Current Price | 0.56357 |
| Next Low | 0.56349 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low