NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A bearish descent downwards to the next support line at 0.55930 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.56844 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Bearish Harami’ candle chart pattern is found. The candles show ‘Bearish Harami’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56844 |
| Current Price | 0.56385 |
| Next Low | 0.55930 |
| 2nd Low | 0.55927 |
| 3rd Low | 0.55865 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Harami