NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support level at 0.57965 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.58675 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58838 |
| 2nd High | 0.58688 |
| Next High | 0.58675 |
| Current Price | 0.58438 |
| Next Low | 0.57965 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing