NZD/USD – 4H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards

A bearish descent down to the next support line at is certain.

Caution: A possible counter-trend in the direction of resistance at 0.58886 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 0.57965 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.58886 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Three Outside Down’ candlestick pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download NZD/USD Signal Image

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down