NZD/USD – 30M – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.

A bearish trend down to the next support level at is expected.

Caution: A possible trend reversal in the direction of the resistance line at 0.60616 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.60327972 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 0.60616 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘Two Crows’ candlestick pattern is discovered. The candles form ‘Two 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

0.60616 – 0.60570 – 0.60582 – 0.60239 – 0.60374 – 0.60274

Trading Signals: FOREX – NZD – NZD/USD – USD – Two Crows