NZD/USD – 30M – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline downwards

A continuation of the downward movement downwards to the next support line at 0.58914 is likely expected.

Caution: A possible change in the direction of resistance at 0.59111 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

0.59111 – 0.59197 – 0.59404 – 0.58914 – 0.59206 – 0.59071 —
0.58977 – 0.58648 —
34.129665681307 – 25.155511881505 —
– —
0.59111 – 1773313200

Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – – – – – – – – –