NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support at will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.5735 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The currency pair could go down.
Moreover a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57774 |
| 2nd High | 0.5749 |
| Next High | 0.5735 |
| Current Price | 0.57230 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.5735 – 0.5749 – 0.57774 – 0.57038 – 0.57059 – 0.56992 —
0.57182 – 0.57279 —
44.155596759443 – 59.780090358298 —
– —
0.5735 – 1774931400
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – – – – – – – – –