NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A descending movement downwards to the next support at 0.56350 is considered certain.
Caution: A possible change in the direction of resistance at 0.56584 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. 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 | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56584 |
| Current Price | 0.56462 |
| Next Low | 0.56350 |
| 2nd Low | 0.56333 |
| 3rd Low | 0.56316 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing