NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline up.
A bullish ascent up to the next resistance line at 0.59743 is expected.
Caution: A possible counter-trend in the direction of support at 0.59136 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ candlestick pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The 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).
Next a ‘Double top chart pattern’ chart formation is detected. The chart picture forms ‘Double top chart pattern’. which is a negative pattern signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60225 |
| 2nd High | 0.60121 |
| Next High | 0.59743 |
| Current Price | 0.59294 |
| Next Low | 0.59136 |
| 2nd Low | 0.58932 |
| 3rd Low | 0.58859 |
0.59743 – 0.60121 – 0.60225 – 0.59342 – 0.59882 – 0.59634
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji