NZD/USD – 4H – SELL

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

A continuation of the bearish trend downwards to the next support at 0.5848 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 0.5964 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K falls below 0.8’ indicator layout is discovered. The indicator shows ‘StochRSI %K falls below 0.8’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.58356 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of support at 0.5964 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Matching Low’ candlestick chart pattern is found. The chart forms ‘Matching Low’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

0.5964 – 0.59481 – 0.60125 – 0.5848 – 0.58356 – 0.5942 —
0.59479 – 0.59111 —
52.153173053101 – 43.31900750529 —
– —
0.5964 – 1773172800

Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low – – – – – – – – –