NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A bearish descent downwards to the next support level at is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.58081 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle chart pattern is discovered. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58081 |
| Current Price | 0.57864 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low