NZD/USD – 1H – SELLNext a ‘Double bottom retreat down’ chart layout is found. The chart shows ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to go down.
The pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A bearish descent down to the next support line at 0.60368 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.60779 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60875 |
| 2nd High | 0.60794 |
| Next High | 0.60779 |
| Current Price | 0.60639 |
| Next Low | 0.60368 |
| 2nd Low | 0.60097 |
| 3rd Low | 0.60040 |
0.60779 – 0.60745 – 0.60395 – 0.60368 – 0.60435 – 0.60097
Trading Signals: FOREX – NZD – NZD/USD – USD – – Double bottom retreat down