NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at 0.56076 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.57369 could happen.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ candle chart pattern is discovered. 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 chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.57677 |
| Next High | 0.57369 |
| Current Price | 0.56412 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing