NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.58108 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.58389 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58454 |
| 2nd High | 0.58441 |
| Next High | 0.58389 |
| Current Price | 0.58326 |
| Next Low | 0.58108 |
| 2nd Low | 0.5769 |
| 3rd Low | 0.56939 |
0.58389 – 0.58441 – 0.58322 – 0.58108 – 0.5769 – 0.57854 —
0.58304 – 0.58348 —
56.052903473059 – 55.897390026995 —
– —
0.58389 – 1781267400
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – – – – – – – – –