NZD/USD – 1H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A bearish movement down to the next support at 0.56134 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.56593 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Harami’ chart pattern is found. The chart forms ‘Bearish Harami’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56555 |
| Next Low | 0.56134 |
| 2nd Low | 0.56123 |
| 3rd Low | 0.56076 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Harami