NZD/USD – 1H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 0.58421 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 0.57413 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candlestick chart pattern is detected. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58657 |
| 2nd High | 0.58529 |
| Next High | 0.58421 |
| Current Price | 0.57992 |
| Next Low | 0.57413 |
| 2nd Low | 0.5733 |
| 3rd Low | 0.57106 |
0.57776 – 0.58421 – 0.58529 – 0.57413 – 0.5733 – 0.57396 —
0.57917 – 0.58026 —
67.409743764329 – 67.499517838289 —
– —
0.57776 – 1767373200
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – – – – – – – – –