NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 0.56276 will persist.
Caution: A possible change in the direction of the resistance level at 0.56640 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Bottom’ candlestick pattern is discovered. The candles form ‘Tweezers Bottom’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.56719 |
| Next High | 0.56640 |
| Current Price | 0.56286 |
| Next Low | 0.56276 |
| 2nd Low | 0.56134 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Tweezers Bottom