Bearish NZDUSD - 25 October 2024

EURUSD Forex

NZDUSD

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports NZDUSD Bearish bias. A break of 0.60300 will support the fall towards the target of 0.59805 the break of 0.59805 would push the price to 0.59475.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 0.5877
Support S1: 0.5873, S2: 0.5871 , S3: 0.5867
Resistance R1: 0.5879 , R2: 0.5883 , R3: 0.5885

Brokers

Open account

Summary

Instrument :

NZDUSD

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

43%

Entry Level :

0.60300

Activation Time :

2024-10-21 17:00

Age :

148 Bars

Progress :

100%

Close Time :

2024-10-25 13:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

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Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.