NZD/USD – 1H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
The bearish trend down to the next support line at 0.58800 is expected.
Caution: A possible change in the direction of the resistance line at 0.59077 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a negative 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 | 0.59470 |
| 2nd High | 0.59216 |
| Next High | 0.59077 |
| Current Price | 0.59091 |
| Next Low | 0.58800 |
| 2nd Low | 0.58151 |
| 3rd Low | 0.57965 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing