NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance level at 0.59938 is expected.
Caution: A possible reversal of the trend in the direction of the support line at 0.59106 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Shooting Star’ candle chart pattern is existing. The chart shows ‘Shooting Star’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60125 |
| 2nd High | 0.60043 |
| Next High | 0.59938 |
| Current Price | 0.59290 |
| Next Low | 0.59106 |
| 2nd Low | 0.58638 |
| 3rd Low | 0.58314 |
0.59938 – 0.59103 – 0.59114 – 0.59106 – 0.58638 – 0.58314 —
0.59265 – 0.59379 —
35.340049784051 – 42.223412547085 —
– —
0.59938 – 1780077600
Trading Signals: FOREX – NZD – NZD/USD – USD – Shooting Star – – – – – – – – –