NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
An ascent up to the next resistance level at 0.58678 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.58177 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candlestick chart pattern is existing. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59302 |
| 2nd High | 0.58803 |
| Next High | 0.58678 |
| Current Price | 0.58615 |
| Next Low | 0.58177 |
| 2nd Low | 0.57995 |
| 3rd Low | 0.54850 |
0.58678 – 0.58803 – 0.58758 – 0.58177 – 0.58283 – 0.58518 — 55.841754730999 – 57.865411036247 — 11.883781124401 – 18.868667685373 – 37.74516165533 – 22.182840410854
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Triple bottom chart pattern – –