NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.58151 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.59109 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Matching Low’ candle chart pattern is discovered. The chart shows ‘Matching Low’. which is a positive pattern signal. The currency 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 | 0.59286 |
| 2nd High | 0.59279 |
| Next High | 0.59109 |
| Current Price | 0.58673 |
| Next Low | 0.58151 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low