NZD/USD – 30M – SELL

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

A continuation of the downward movement down to the next support line at 0.58914 will continue.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.59111 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

0.59111 – 0.59197 – 0.59404 – 0.58914 – 0.59206 – 0.59071 —
0.59111 – 0.58685 —
47.65863300637 – 23.300325452017 —
– —
0.59111 – 1773313200

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