NZD/USD – 1H – SELL

Furthermore a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.5875376 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 0.59479 could occur.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Down’ chart pattern is discovered. The candles form ‘Three Outside Down’. which is a bearish 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.59479 – 0.5964 – 0.59152 – 0.59206 – 0.59071 – 0.5848 —
0.59189 – 0.59082 —
44.218127066877 – 44.301415572713 —
– —
0.59479 – 1773216000

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