NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline downwards
The bearish trend downwards to the next support line at 0.56123 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.56619 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish 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 | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.56619 |
| Current Price | 0.56592 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing