The 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