NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support at is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.57677 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Down’ candle chart pattern is found. The chart forms ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.57677 |
| Current Price | 0.57241 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down