NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
A descent downwards to the next support at 0.57225 will continue.
Caution: A possible counter-trend in the direction of resistance at 0.57671 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Tweezers Top’ candle chart pattern is detected. The candles form ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
Besides a ‘Double top chart pattern’ chart pattern is detected. The formation shows ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58308 |
| 2nd High | 0.58252 |
| Next High | 0.57671 |
| Current Price | 0.57330 |
| Next Low | 0.57225 |
| 2nd Low | 0.56919 |
| 3rd Low | 0.56819 |
0.57671 – 0.57657 – 0.58252 – 0.57463 – 0.57225 – 0.57752
Trading Signals: FOREX – NZD – NZD/USD – USD – Tweezers Top