NZD/USD – 1H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.

A descent down to the next support line at 0.58356 will persist.

Caution: A possible trend reversal in the direction of the resistance level at 0.59481 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Bearish Engulfing’ chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

0.59481 – 0.59066 – 0.60043 – 0.58356 – 0.59158 – 0.59569 —
0.59242 – 0.58938 —
47.800528936884 – 31.375169092867 —
– —
0.59481 – 1772679600

Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –