NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance level at 0.56538 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 0.56316 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Tweezers Bottom’ candlestick pattern is discovered. The candles show ‘Tweezers Bottom’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56538 |
| Current Price | 0.56485 |
| Next Low | 0.56316 |
| 2nd Low | 0.56123 |
| 3rd Low | 0.56076 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Tweezers Bottom