NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards
The bearish trend down to the next support at 0.57609 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.58081 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Engulfing’ candle pattern is existing. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58081 |
| Current Price | 0.57864 |
| Next Low | 0.57609 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing