NZD/USD – 4H – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A bearish trend down to the next support level at 0.56076 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.56719 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Bullish Engulfing’ chart pattern is discovered. The chart shows ‘Bullish Engulfing’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.57926 |
| Next High | 0.56719 |
| Current Price | 0.56483 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing