NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
The bullish trend up to the next resistance at 0.59301 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.58859 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.59435 |
| Next High | 0.59301 |
| Current Price | 0.59292 |
| Next Low | 0.58859 |
| 2nd Low | 0.58607 |
| 3rd Low | 0.58302 |
0.59301 – 0.59435 – 0.59280 – 0.58859 – 0.59022 – 0.58607
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji