NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance line at 0.59493 will persist.
Caution: A possible reversal of the trend in the direction of support at 0.58979 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this is a bullish pattern signal. 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).
Moreover a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a positive chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60007 |
| 2nd High | 0.59863 |
| Next High | 0.59493 |
| Current Price | 0.59311 |
| Next Low | 0.58979 |
| 2nd Low | 0.58859 |
| 3rd Low | 0.58302 |
0.59493 – 0.59863 – 0.59819 – 0.58979 – 0.59264 – 0.59279
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji