NZD/USD – 4H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 0.56076 will continue.
Caution: A possible change in the direction of the resistance zone at 0.56719 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ candle chart pattern is existing. The candles form ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.57926 |
| Next High | 0.56719 |
| Current Price | 0.56234 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low