NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 0.58678 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.58177 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59302 |
| 2nd High | 0.58803 |
| Next High | 0.58678 |
| Current Price | 0.58905 |
| Next Low | 0.58177 |
| 2nd Low | 0.57995 |
| 3rd Low | 0.54850 |
0.58678 – 0.58803 – 0.58758 – 0.58177 – 0.58283 – 0.58518 — 67.722582067711 – 70.055294751491 — 32.010923158613 – 53.192242534577 – 28.116377208171 – 35.361197501833
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Triple bottom chart pattern – –