NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A descent down to the next support line at 0.59259 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.59697 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ chart pattern is detected. The candles form ‘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’ heading up is 52% (Bull Market) & 51% (Bear Market).
And also a ‘Double top chart pattern’ chart pattern is detected. The chart forms ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to go down.
And also a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60131 |
| 2nd High | 0.60007 |
| Next High | 0.59697 |
| Current Price | 0.59423 |
| Next Low | 0.59259 |
| 2nd Low | 0.59247 |
| 3rd Low | 0.58994 |
0.59697 – 0.60007 – 0.60131 – 0.59481 – 0.59410 – 0.59363
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji