NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A bearish movement down to the next support level at 0.58517 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.58886 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bullish Engulfing’ candlestick pattern is detected. The chart forms ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58886 |
| Current Price | 0.58691 |
| Next Low | 0.58517 |
| 2nd Low | 0.58475 |
| 3rd Low | 0.58285 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing