NZD/USD – 4H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
The bearish trend down to the next support at 0.56076 will continue.
Caution: A possible change in the direction of the resistance line at 0.56719 could happen.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candle pattern is detected. The chart forms ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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