NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 0.58754 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 0.58470 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58828 |
| 2nd High | 0.58803 |
| Next High | 0.58754 |
| Current Price | 0.58861 |
| Next Low | 0.58470 |
| 2nd Low | 0.58388 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers