NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline downwards
A bearish movement down to the next support line at is certain.
Caution: A possible counter-trend in the direction of resistance at 0.56462 could happen.
Consider stop-loss settings accordingly.
And also a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56640 |
| Next High | 0.56462 |
| Current Price | 0.55936 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing