NZD/USD – 4H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A bearish movement down to the next support at 0.59363 is likely expected.
Caution: A possible change in the direction of resistance at 0.60291 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The pair is likely to go down.
Next a ‘Matching Low’ chart pattern is detected. The chart forms ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
Next a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.60291 |
| Current Price | 0.59409 |
| Next Low | 0.59363 |
| 2nd Low | 0.54850 |
| 3rd Low |
0.60291 – 0.59435 – 0.58528 – 0.59363 – 0.54850 – 0.56482
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low