NZD/USD – 1H – SELL

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

A continuation of the bearish trend down to the next support line at 0.60141 is certain.

Caution: A possible counter-trend in the direction of the resistance line at 0.60503 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ chart pattern is detected. The candles form ‘Three Outside Down’. which 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 success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.60503 – 0.60756 – 0.6073 – 0.60141 – 0.60252 – 0.60387 —
0.60335 – 0.60431 —
46.910840141002 – 54.709003241238 —
– —
0.60503 – 1771009200

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down – – – – – – – – –