NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A bearish trend downwards to the next support line at 0.56276 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.56640 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57369 |
| 2nd High | 0.56719 |
| Next High | 0.56640 |
| Current Price | 0.56395 |
| Next Low | 0.56276 |
| 2nd Low | 0.56211 |
| 3rd Low | 0.56134 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing