NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descending movement downwards to the next support line at 0.56306 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.56844 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56844 |
| Current Price | 0.56857 |
| Next Low | 0.56306 |
| 2nd Low | 0.55930 |
| 3rd Low | 0.55927 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing