NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support at 0.57788 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.5819 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Matching Low’ candlestick pattern is found. The candles form ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58421 |
| 2nd High | 0.58333 |
| Next High | 0.5819 |
| Current Price | 0.57877 |
| Next Low | 0.57788 |
| 2nd Low | 0.57413 |
| 3rd Low | 0.5733 |
0.57917 – 0.57705 – 0.57776 – 0.57788 – 0.57413 – 0.57421 —
0.58095 – 0.57921 —
66.75224129887 – 44.045117217015 —
– —
0.57917 – 1767650400
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low – Double bottom retreat down – – – – – – – –