NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance level at 0.58395 will continue.
Caution: A possible counter-trend in the direction of support at 0.58038 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ candle chart pattern is found. The candles form ‘Three Outside Up’. this is a bullish 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 | 0.58886 |
| 2nd High | 0.58762 |
| Next High | 0.58395 |
| Current Price | 0.58785 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up