NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A descent down to the next support line at 0.58151 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.59216 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59722 |
| 2nd High | 0.59470 |
| Next High | 0.59216 |
| Current Price | 0.58798 |
| Next Low | 0.58151 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing