NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A bearish movement down to the next support line at 0.55930 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.57369 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ candlestick chart pattern is found. The chart forms ‘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’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.57677 |
| Next High | 0.57369 |
| Current Price | 0.56734 |
| Next Low | 0.55930 |
| 2nd Low | 0.55927 |
| 3rd Low | 0.55865 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Engulfing