NZD/USD – 4H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
A descending movement downwards to the next support line at 0.57534 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.58886 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.57569 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing