NZD/USD – 1H – SELL

The pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.

A continuation of the bearish trend downwards to the next support line at 0.55823 is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 0.56384 could happen.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘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).

0.56384 – 0.56747 – 0.56886 – 0.55823 – 0.55791 – 0.55896 —
0.56000 – 0.56098 —
46.238144176035 – 52.750479302377 —
– —
0.56384 – 1763654400

Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Double bottom retreat down – – – – – – – –