NZD/USD – 4H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
A descending movement downwards to the next support at 0.57534 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.58886 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Outside Down’ candle chart pattern is found. The chart shows ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. 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 | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.57579 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down