NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A descent downwards to the next support line at 0.55874 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.56209 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Harami’ candlestick pattern is detected. The chart forms ‘Bearish Harami’. 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 chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56640 |
| 2nd High | 0.56462 |
| Next High | 0.56209 |
| Current Price | 0.56183 |
| Next Low | 0.55874 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Harami