NZD/USD – 1H – BUYFurthermore a ‘Double top retreat up’ chart layout is existing. The chart forms ‘Double top retreat up’. which is a positive signal. The currency pair is likely to rise.
The combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
A bullish movement upwards to the next resistance level at 0.60088 will persist.
Caution: A possible change in the direction of the support line at 0.59588 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ chart pattern is found. The chart forms ‘Northern Doji’. which 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60794 |
| 2nd High | 0.60565 |
| Next High | 0.60088 |
| Current Price | 0.59610 |
| Next Low | 0.59588 |
| 2nd Low | 0.59469 |
| 3rd Low | 0.59248 |
0.60088 – 0.60565 – 0.60794 – 0.59588 – 0.60092 – 0.60449
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji