NZD/USD – 1H – SELL

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

A bearish descent downwards to the next support line at 0.60222 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 0.60922 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 0.60234 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 0.60922 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

0.60922 – 0.60503 – 0.59987 – 0.60222 – 0.60143 – 0.60073 —
0.60552 – 0.60801 —
48.194239707811 – 55.943752396609 —
– —
0.60922 – 1769666400

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down – Double bottom chart pattern – – – – – – – –