NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance line at 0.56519 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 0.56349 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Outside Up’ candle pattern is discovered. The candles form ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56519 |
| Current Price | 0.56440 |
| Next Low | 0.56349 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up