NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descent downwards to the next support level at 0.56123 will persist.
Caution: A possible change in the direction of the resistance line at 0.56593 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Up’ candlestick pattern is existing. The chart forms ‘Three Outside Up’. 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 chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56263 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up