NZD/USD – 1H – SELL

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

A continuation of the downtrend downwards to the next support level at 0.60565 will continue.

Caution: A possible change in the direction of the resistance zone at 0.61200 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Additionally a ‘Three Black Crows’ candlestick pattern is discovered. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

0.61200 – 0.60779 – 0.60745 – 0.60807 – 0.60750 – 0.60565

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows – Head and Shoulder chart pattern