NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A descent down to the next support level at 0.56123 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.56719 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.56719 |
| Current Price | 0.56536 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing