NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 0.56349 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.56538 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56538 |
| Current Price | 0.56433 |
| Next Low | 0.56349 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing