NZD/USD – 4H – SELLIn addition a ‘Rising Wedge Chart Pattern’ chart formation is detected. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The currency pair is likely to go down.
The currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline downwards
A bearish trend down to the next support level at 0.59141 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.59795 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 0.5868087 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 0.59795 should always be considered.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.612 |
| Next High | 0.59795 |
| Current Price | 0.59569 |
| Next Low | 0.59141 |
| 2nd Low | 0.58325 |
| 3rd Low | 0.58177 |
0.59795 – 0.58803 – 0.59423 – 0.59141 – 0.58325 – 0.58177 — 57.13815668044 – 55.756096673798 — 31.461746138075 – 31.711426425512 – 27.529789091204 – 30.961708922856
Trading Signals: FOREX – NZD – NZD/USD – USD – – Rising Wedge Chart Pattern – –