NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A bearish trend down to the next support line at is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.57926 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.57534 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.57926 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Matching Low’ candlestick chart pattern is discovered. The candles show ‘Matching Low’. which is a positive 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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.57481 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low