NZD/USD – 4H – SELL

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

A continuation of the bearish trend down to the next support at 0.58356 is expected.

Caution: A possible change in the direction of the resistance line at 0.60125 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.58356 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support zone at 0.60125 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Matching Low’ candlestick chart pattern is discovered. The chart shows ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

0.60125 – 0.6003 – 0.60527 – 0.58356 – 0.5942 – 0.59375 —
0.59146 – 0.59319 —
41.764550701321 – 42.889384999933 —
– —
0.60125 – 1772078400

Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low – Symmetrical Triangle Chart Pattern – – – – – – – –