NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.58670 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.59044 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘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 chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59279 |
| 2nd High | 0.59109 |
| Next High | 0.59044 |
| Current Price | 0.58787 |
| Next Low | 0.58670 |
| 2nd Low | 0.58641 |
| 3rd Low | 0.58635 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing