NZD/USD – 1H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline downwards

A continuation of the downtrend down to the next support at 0.58576 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 0.59223 could occur.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Down’ candlestick pattern is detected. The chart forms ‘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 probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.59223 – 0.59193 – 0.59203 – 0.58576 – 0.58397 – 0.584 —
0.59135 – 0.59192 —
70.143096320173 – 70.368918695036 —
– —
0.59223 – 1776855600

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