NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 0.57534 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.57859 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Matching Low’ candle chart pattern is found. The chart shows ‘Matching Low’. which is a bullish pattern signal. The 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 | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57859 |
| Current Price | 0.57793 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low