NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A bearish movement down to the next support at 0.57609 is certain.
Caution: A possible change in the direction of the resistance zone at 0.58171 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58171 |
| Current Price | 0.57645 |
| Next Low | 0.57609 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing