NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 0.58641 will persist.
Caution: A possible change in the direction of the resistance zone at 0.59044 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. 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 | 0.59279 |
| 2nd High | 0.59109 |
| Next High | 0.59044 |
| Current Price | 0.58817 |
| Next Low | 0.58641 |
| 2nd Low | 0.58635 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing