NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
A descending movement downwards to the next support line at is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.57926 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.56648 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing