NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline upwards
The bullish trend up to the next resistance line at 0.58807 is likely expected.
Caution: A possible counter-trend in the direction of the support line at 0.58475 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ candlestick chart pattern is found. The chart shows ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58807 |
| Current Price | 0.58699 |
| Next Low | 0.58475 |
| 2nd Low | 0.58285 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up