NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A descending movement down to the next support level at will continue.
Caution: A possible change in the direction of resistance at 0.57369 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Engulfing’ chart pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.57677 |
| Next High | 0.57369 |
| Current Price | 0.56203 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing