NZD/USD – 4H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline downwards
A descent downwards to the next support at is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.57926 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘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 chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59286 |
| 2nd High | 0.58886 |
| Next High | 0.57926 |
| Current Price | 0.56231 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing