NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 0.58800 will continue.
Caution: A possible change in the direction of the resistance line at 0.59109 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ chart pattern is existing. The candles form ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59286 |
| 2nd High | 0.59279 |
| Next High | 0.59109 |
| Current Price | 0.58830 |
| Next Low | 0.58800 |
| 2nd Low | 0.58151 |
| 3rd Low | 0.57965 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three White Soldiers