NZD/USD – 4H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance level at is considered certain.
Caution: A possible trend reversal in the direction of the support line at 0.58826 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair could go up.
Additionally a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.60999 |
| Next Low | 0.58826 |
| 2nd Low | 0.58602 |
| 3rd Low | 0.58462 |
0.60875 – 0.60710 – 0.60799 – 0.58826 – 0.59948 – 0.60061
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Inverse Head and Shoulder chart pattern