NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline down.
A continuation of the downtrend down to the next support at 0.58027 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 0.58617 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Two Crows’ chart pattern is discovered. The chart forms ‘Two Crows’. which is a negative 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 ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59197 |
| 2nd High | 0.59111 |
| Next High | 0.58617 |
| Current Price | 0.58166 |
| Next Low | 0.58027 |
| 2nd Low | 0.57884 |
| 3rd Low | 0.57397 |
0.58617 – 0.59111 – 0.59197 – 0.58027 – 0.58472 – 0.58914 —
0.58233 – 0.58401 —
38.116209944956 – 53.713217200601 —
– —
0.58617 – 1773374400
Trading Signals: FOREX – NZD – NZD/USD – USD – Two Crows – – – – – – – – –