NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.59094 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.59423 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Tweezers Top’ candle chart pattern is found. The chart shows ‘Tweezers Top’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60925 |
| 2nd High | 0.60818 |
| Next High | 0.59423 |
| Current Price | 0.59220 |
| Next Low | 0.59094 |
| 2nd Low | 0.59070 |
| 3rd Low | 0.58826 |
0.59423 – 0.59386 – 0.60818 – 0.59094 – 0.59070 – 0.60299 — 50.3848045699 – 45.395762049614 — 69.706363167606 – 75.532398359993 – 54.618982928293 – 64.943736687626
Trading Signals: FOREX – NZD – NZD/USD – USD – Tweezers Top – – –