NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
The bearish trend down to the next support level at 0.57585 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.57926 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.57569 |
| Next Low | 0.57585 |
| 2nd Low | 0.57534 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows