NZD/USD – 1H – SELLNext a ‘Rising Wedge Chart Pattern’ chart layout is existing. The chart shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The pair is likely to go down.
The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
A descending movement downwards to the next support at 0.60435 will continue.
Caution: A possible change in the direction of the resistance level at 0.60779 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Tweezers Top’ candlestick chart pattern is existing. The chart forms ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60875 |
| 2nd High | 0.60794 |
| Next High | 0.60779 |
| Current Price | 0.60482 |
| Next Low | 0.60435 |
| 2nd Low | 0.60097 |
| 3rd Low | 0.60040 |
0.60779 – 0.60745 – 0.60395 – 0.60435 – 0.60097 – 0.60040
Trading Signals: FOREX – NZD – NZD/USD – USD – Tweezers Top – Rising Wedge Chart Pattern