Sell NZD/USD – 1H – SELL

The pair New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline down.

A continuation of the downward movement down to the next support level at 0.57534 is considered certain.

Caution: A possible change in the direction of the resistance zone at 0.57859 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bearish Engulfing’ chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

Support & Resistance Price Range*
3rd High 0.58877
2nd High 0.58171
Next High 0.57859
Current Price 0.57791
Next Low 0.57534
2nd Low
3rd Low

Download NZD/USD Signal Image

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