NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
A descending movement downwards to the next support at 0.56076 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56619 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Matching Low’ candlestick chart pattern is existing. The chart shows ‘Matching Low’. this is a bullish signal. The currency 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 | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.56619 |
| Current Price | 0.56231 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low