NZD/USD – 1H – SELLIn addition a ‘Rising Wedge Chart Pattern’ chart layout is detected. The formation shows ‘Rising Wedge Chart Pattern’. this is a bearish signal. The pair is likely to go down.
The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descent downwards to the next support line at 0.60435 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.60779 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Tweezers Top’ candlestick pattern is found. The candles show ‘Tweezers Top’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60875 |
| 2nd High | 0.60794 |
| Next High | 0.60779 |
| Current Price | 0.60482 |
| Next Low | 0.60435 |
| 2nd Low | 0.60097 |
| 3rd Low | 0.60040 |
0.60779 – 0.60745 – 0.60395 – 0.60435 – 0.60097 – 0.60040
Trading Signals: FOREX – NZD – NZD/USD – USD – Tweezers Top – Rising Wedge Chart Pattern