NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.58517 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.59044 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. this 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 | 0.58830 |
| Next Low | 0.58517 |
| 2nd Low | 0.58285 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing