NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
The bearish trend down to the next support line at 0.58359 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.58838 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59216 |
| 2nd High | 0.58855 |
| Next High | 0.58838 |
| Current Price | 0.58326 |
| Next Low | 0.58359 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing