NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A bearish descent downwards to the next support line at 0.58932 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.60225 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 0.59919852 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.60225 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ chart pattern is discovered. The candles show ‘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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.60291 |
| Next High | 0.60225 |
| Current Price | 0.59645 |
| Next Low | 0.58932 |
| 2nd Low | 0.58859 |
| 3rd Low | 0.58302 |
0.60225 – 0.59955 – 0.59771 – 0.59434 – 0.58932 – 0.58979
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji