NZD/USD – 4H – SELLMoreover a ‘Double bottom retreat down’ chart pattern is detected. The chart picture shows ‘Double bottom retreat down’. this is a bearish chart scenario. The pair is likely to go down.
The combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A bearish trend downwards to the next support at 0.58826 is considered certain.
Caution: A possible change in the direction of resistance at 0.60875 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.60875 |
| Current Price | 0.60855 |
| Next Low | 0.58826 |
| 2nd Low | 0.58602 |
| 3rd Low | 0.58462 |
0.60875 – 0.60710 – 0.60799 – 0.58826 – 0.59948 – 0.60061
Trading Signals: FOREX – NZD – NZD/USD – USD – – Double bottom retreat down