NZD/USD – 4H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
A bearish trend downwards to the next support level at will continue.
Caution: A possible counter-trend in the direction of resistance at 0.58886 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative signal. 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 | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.57609 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing