NZD/USD – 4H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
An ascent upwards to the next resistance at 0.60225 will persist.
Caution: A possible reversal of the trend in the direction of the support zone at 0.58602 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
There is also a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.60291 |
| Next High | 0.60225 |
| Current Price | 0.59837 |
| Next Low | 0.58602 |
| 2nd Low | 0.58462 |
| 3rd Low | 0.54850 |
0.59675 – 0.59685 – 0.60225 – 0.58602 – 0.58462 – 0.58932
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji