Sell NZD/USD – 30M – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline down.

A continuation of the downtrend downwards to the next support at 0.56349 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 0.56519 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The 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 0.56607
2nd High 0.56538
Next High 0.56519
Current Price 0.56357
Next Low 0.56349
2nd Low 0.56316
3rd Low 0.56123

Download NZD/USD Signal Image

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