NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance at 0.56338 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 0.55930 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candle pattern is found. The candles form ‘Three Outside Up’. which is a bullish chart scenario. 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’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56640 |
| 2nd High | 0.56462 |
| Next High | 0.56338 |
| Current Price | 0.56410 |
| Next Low | 0.55930 |
| 2nd Low | 0.55927 |
| 3rd Low | 0.55865 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up