NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
A bearish trend downwards to the next support line at 0.56350 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.56593 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ chart pattern is discovered. The candles form ‘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 chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56352 |
| Next Low | 0.56350 |
| 2nd Low | 0.56333 |
| 3rd Low | 0.56316 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing