NZD/USD – 4H – SELL

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.58603 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 0.59235 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

0.59235 – 0.59223 – 0.59287 – 0.58147 – 0.58397 – 0.58492 —
0.58454 – 0.59085 —
33.56059334727 – 56.050420187737 —
– —
0.59235 – 1777305600

Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –