NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A descending movement downwards to the next support at 0.57537 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.57926 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bullish Engulfing’ chart pattern is discovered. The chart shows ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.57589 |
| Next Low | 0.57537 |
| 2nd Low | 0.57534 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing