NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A bearish trend downwards to the next support line at 0.55927 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.56414 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Concealing Baby Swallow’ candle chart pattern is found. The candles show ‘Concealing Baby Swallow’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57369 |
| 2nd High | 0.56922 |
| Next High | 0.56414 |
| Current Price | 0.55929 |
| Next Low | 0.55927 |
| 2nd Low | 0.55865 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Concealing Baby Swallow