NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.57609 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.58171 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candle pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58171 |
| Current Price | 0.57659 |
| Next Low | 0.57609 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing