NZD/USD – 4H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.

A bearish descent downwards to the next support level at 0.5848 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 0.5964 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘StochRSI %K line crosses above %D line’ indicator layout is found. The indicator shows ‘StochRSI %K line crosses above %D line’. which could be a positive signal. The pair is likely to go up.

Then a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

0.5964 – 0.59481 – 0.60125 – 0.5848 – 0.58356 – 0.5942 —
0.59404 – 0.58651 —
49.20838452191 – 34.001600823928 —
– —
0.5964 – 1773172800

Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – – – – – – – – –