NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance level at 0.60503 is certain.
Caution: A possible trend reversal in the direction of support at 0.59546 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Up’ candlestick chart pattern is existing. The candles show ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60925 |
| 2nd High | 0.60818 |
| Next High | 0.60503 |
| Current Price | 0.60371 |
| Next Low | 0.59546 |
| 2nd Low | 0.5891 |
| 3rd Low | 0.58336 |
0.60503 – 0.59987 – 0.59749 – 0.59546 – 0.5891 – 0.58336 —
0.60253 – 0.60381 —
55.225276657477 – 60.166308302236 —
– —
0.60503 – 1769551200
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up – Double top chart pattern – – – – – – – –