NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 0.58517 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.58886 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58886 |
| Current Price | 0.58671 |
| Next Low | 0.58517 |
| 2nd Low | 0.58475 |
| 3rd Low | 0.58285 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing