NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 0.55715 will persist.
Caution: A possible change in the direction of the resistance level at 0.56030 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.55715 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 0.56030 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56414 |
| 2nd High | 0.56126 |
| Next High | 0.56030 |
| Current Price | 0.55969 |
| Next Low | 0.55715 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down