NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.58038 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.58886 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Evening Star’ candle pattern is detected. The candles show ‘Evening Star’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58886 |
| Current Price | 0.58785 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Evening Star