NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.57677 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart shows ‘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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.57677 |
| Current Price | 0.57481 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing