NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline up.
A continuation of the uptrend up to the next resistance line at 0.59776 is expected.
Caution: A possible trend reversal in the direction of the support line at 0.59247 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.59776 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 0.59776 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The pair is likely to go up.
In addition a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a positive signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.59776 |
| Current Price | 0.59547 |
| Next Low | 0.59247 |
| 2nd Low | 0.58994 |
| 3rd Low | 0.58859 |
0.59776 – 0.59435 – 0.59435 – 0.59247 – 0.58994 – 0.58859
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji