NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 0.58658 is considered certain.
Caution: A possible reversal of the trend in the direction of the support line at 0.58336 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58712 |
| 2nd High | 0.58691 |
| Next High | 0.58658 |
| Current Price | 0.58869 |
| Next Low | 0.58336 |
| 2nd Low | 0.58205 |
| 3rd Low | 0.57397 |
0.58658 – 0.58509 – 0.5752 – 0.58336 – 0.58205 – 0.57397 —
0.58625 – 0.58774 —
60.748319687378 – 71.811650019805 —
– —
0.58658 – 1769011200
Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Head and Shoulder chart pattern – – – – – – – –