NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
A descent downwards to the next support at 0.56076 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56619 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Above the Stomach’ candle pattern is detected. The candles form ‘Above the Stomach’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Above the Stomach’ going up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.56619 |
| Current Price | 0.56290 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Above the Stomach