NZD/USD – 4H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descent down to the next support at 0.56134 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.56640 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Hammer’ candle pattern is discovered. The candles show ‘Hammer’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.56719 |
| Next High | 0.56640 |
| Current Price | 0.56150 |
| Next Low | 0.56134 |
| 2nd Low | 0.56076 |
| 3rd Low |