NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
A descending movement down to the next support level at 0.56123 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.56593 could be enabled.
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’. which is a bullish chart scenario. 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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56226 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low