NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 0.56414 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.55891 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Advance Block’ candlestick chart pattern is found. The chart forms ‘Advance Block’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Advance Block’ going down is 64% (Bull Market) & 61% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57369 |
| 2nd High | 0.56922 |
| Next High | 0.56414 |
| Current Price | 0.56085 |
| Next Low | 0.55891 |
| 2nd Low | 0.55865 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Advance Block