NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
A descending movement down to the next support at 0.57910 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.58877 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Matching Low’ chart pattern is discovered. The candles show ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.57923 |
| Next Low | 0.57910 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low