NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
The bearish trend down to the next support at 0.56123 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.57926 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ candle chart pattern is discovered. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.56622 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Up