NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bearish trendline down.
A continuation of the downtrend down to the next support at 0.57116 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.57360 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ candlestick pattern is discovered. The candles show ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
There is also a ‘Double top chart pattern’ chart formation is detected. The chart forms ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57621 |
| 2nd High | 0.57551 |
| Next High | 0.57360 |
| Current Price | 0.56941 |
| Next Low | 0.57116 |
| 2nd Low | 0.57108 |
| 3rd Low | 0.57107 |
0.57360 – 0.57551 – 0.57512 – 0.57116 – 0.57108 – 0.57333
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji