NZD/USD – 4H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A bearish movement down to the next support level at is certain.
Caution: A possible change in the direction of the resistance zone at 0.57926 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59286 |
| 2nd High | 0.58886 |
| Next High | 0.57926 |
| Current Price | 0.57170 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing