NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 0.61200 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.60807 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish chart scenario. 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 | |
| 2nd High | |
| Next High | 0.61200 |
| Current Price | 0.61020 |
| Next Low | 0.60807 |
| 2nd Low | 0.60750 |
| 3rd Low | 0.60565 |
0.61200 – 0.60779 – 0.60745 – 0.60807 – 0.60750 – 0.60565
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji –