NZD/USD – 30M – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline down.

A continuation of the downtrend downwards to the next support line at 0.60807 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 0.61058 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 0.60784 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.61058 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.

0.61058 – 0.61200 – 0.60985 – 0.60807 – 0.60750 – 0.60565

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows –