NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
A descending movement downwards to the next support level at 0.56411 will persist.
Caution: A possible change in the direction of resistance at 0.56719 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Engulfing’ chart pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56719 |
| Current Price | 0.56525 |
| Next Low | 0.56411 |
| 2nd Low | 0.56123 |
| 3rd Low | 0.56076 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing