NZD/USD – 1H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A bearish trend downwards to the next support at 0.60807 is expected.
Caution: A possible change in the direction of the resistance level at 0.61200 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Collapsing Doji Star’ chart pattern is detected. The chart shows ‘Collapsing Doji Star’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.61200 |
| Current Price | 0.60936 |
| Next Low | 0.60807 |
| 2nd Low | 0.60750 |
| 3rd Low | 0.60565 |
0.61200 – 0.60779 – 0.60745 – 0.60807 – 0.60750 – 0.60565
Trading Signals: FOREX – NZD – NZD/USD – USD – Collapsing Doji Star –