NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline up.
The bullish trend up to the next resistance line at 0.58081 will persist.
Caution: A possible reversal of the trend in the direction of the support level at is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ chart pattern is discovered. The chart shows ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. 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 | 0.58877 |
| Next High | 0.58081 |
| Current Price | 0.57773 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up