NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A bearish trend downwards to the next support line at 0.59434 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.60131 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Matching Low’ candle chart pattern is discovered. The candles show ‘Matching Low’. 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 ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.60291 |
| Next High | 0.60131 |
| Current Price | 0.60032 |
| Next Low | 0.59434 |
| 2nd Low | 0.58932 |
| 3rd Low | 0.58859 |
0.59955 – 0.59771 – 0.59508 – 0.59434 – 0.58932 – 0.58979
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low