NZD/USD – 30M – SELL

The pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.

A descending movement down to the next support at 0.59546 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 0.6047 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Besides a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.6047 – 0.60629 – 0.60575 – 0.59872 – 0.60266 – 0.60191 —
0.60071 – 0.59868 —
47.372776519163 – 36.71206892097 —
– —
0.6047 – 1770199200

Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – Double bottom chart pattern – – – – – – – –