Bearish NZDUSD - 31 October 2024

EURUSD Forex

NZDUSD

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 15 Min time frame chart supports NZDUSD Bearish bias. A break of 0.59620 will support the fall towards the target of 0.59560 the break of 0.59560 would push the price to 0.59520.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 0.5591
Support S1: 0.5584, S2: 0.558 , S3: 0.5573
Resistance R1: 0.5595 , R2: 0.5602 , R3: 0.5606

Brokers

Open account

Summary

Instrument :

NZDUSD

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

45%

Entry Level :

0.59620

Activation Time :

2024-10-31 11:30

Age :

3 Bars

Progress :

33%

Close Time :

2024-10-31 12:00

Time Frame :

15 Min

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.