NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A descending movement downwards to the next support level at 0.56306 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.56922 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Harami’ candle chart pattern is detected. The chart forms ‘Bearish Harami’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56922 |
| Current Price | 0.56400 |
| Next Low | 0.56306 |
| 2nd Low | 0.55930 |
| 3rd Low | 0.55927 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Harami