NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support level at 0.56123 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.56593 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Down’ chart pattern is existing. The candles show ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56244 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down