NZD/USD – 4H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A descent downwards to the next support at 0.56076 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.56719 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.57926 |
| Next High | 0.56719 |
| Current Price | 0.56357 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing