NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A bearish trend down to the next support line at will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.56640 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Harami’ candle pattern is discovered. The candles form ‘Bearish Harami’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.56719 |
| Next High | 0.56640 |
| Current Price | 0.55936 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Harami