NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 0.58038 is certain.
Caution: A possible change in the direction of the resistance zone at 0.58877 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Down’ candle chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.58259 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down