NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
A descent downwards to the next support level at 0.57965 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.58877 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Matching Low’ candle chart pattern is existing. The candles form ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.57971 |
| Next Low | 0.57965 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low