NZD/USD – 1H – SELLThere is also a ‘Rising Wedge Chart Pattern’ chart layout is detected. The chart forms ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The pair is likely to go down.
The pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
A descending movement down to the next support at 0.58177 is certain.
Caution: A possible change in the direction of the resistance zone at 0.59175 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Matching Low’ candle pattern is found. The candles show ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59423 |
| 2nd High | 0.59302 |
| Next High | 0.59175 |
| Current Price | 0.59226 |
| Next Low | 0.58177 |
| 2nd Low | 0.57995 |
| 3rd Low | 0.5485 |
0.59175 – 0.58648 – 0.58678 – 0.58177 – 0.58283 – 0.58518 — 70.363938178932 – 69.775617695201 — 96.420359696368 – 91.916280827743 – 93.584911799673 – 95.681018509899
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low – Rising Wedge Chart Pattern – –