NZD/USD – 1H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards

A bearish descent downwards to the next support level at will persist.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.56747 could occur.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative 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 will persist. Target of the current trend is 0.564516 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.56747 could occur.
Consider stop-loss settings accordingly.

Besides a ‘Collapsing Doji Star’ candle pattern is discovered. The candles form ‘Collapsing Doji Star’. which is a negative 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’ heading down is 63% (Bull Market).

0.56747 – 0.56886 – 0.56905 – 0.56378 – 0.56342 – 0.5645 —
0.56604 – 0.56584 —
43.279287901803 – 47.497465252774 —
– —
0.56747 – 1763478000

Trading Signals: FOREX – NZD – NZD/USD – USD – Collapsing Doji Star – – – – –