NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A descending movement downwards to the next support at 0.56123 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.56719 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Matching Low’ candle chart pattern is found. The candles form ‘Matching Low’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56719 |
| Current Price | 0.56443 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low