NZD/USD – 4H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A bearish trend down to the next support line at 0.55865 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.56922 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.57926 |
| Next High | 0.56922 |
| Current Price | 0.55924 |
| Next Low | 0.55865 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing