NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance at 0.56519 will persist.
Caution: A possible trend reversal in the direction of the support level at 0.56349 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ candle chart pattern is found. The chart forms ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56607 |
| 2nd High | 0.56538 |
| Next High | 0.56519 |
| Current Price | 0.56463 |
| Next Low | 0.56349 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up