NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
The bearish trend down to the next support level at 0.56411 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.56607 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57369 |
| 2nd High | 0.56719 |
| Next High | 0.56607 |
| Current Price | 0.56462 |
| Next Low | 0.56411 |
| 2nd Low | 0.56123 |
| 3rd Low | 0.56076 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing