NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance level at 0.58395 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 0.57530 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Northern Doji’ candle pattern is discovered. The chart forms ‘Northern Doji’. which is a positive chart scenario. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.58528 |
| Next High | 0.58395 |
| Current Price | 0.58163 |
| Next Low | 0.57530 |
| 2nd Low | 0.56276 |
| 3rd Low | 0.54850 |
0.58395 – 0.57652 – 0.57094 – 0.57530 – 0.56276 – 0.54850
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji