NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
A bearish trend down to the next support line at 0.58038 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.58877 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Engulfing’ candlestick pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.58223 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing