NZD/USD – 4H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A bearish descent downwards to the next support at is certain.
Caution: A possible change in the direction of the resistance level at 0.58886 is within the realm of possibility.
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. Target of the current trend is 0.57534 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 0.58886 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candle pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.57349 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows