NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descent down to the next support line at 0.57534 will continue.
Caution: A possible change in the direction of the resistance line at 0.57926 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.57585 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing