NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A descent down to the next support line at 0.58151 will continue.
Caution: A possible change in the direction of the resistance line at 0.59077 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59470 |
| 2nd High | 0.59216 |
| Next High | 0.59077 |
| Current Price | 0.58954 |
| Next Low | 0.58151 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing