NZD/USD – 4H – SELL

The pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline downwards

A continuation of the downtrend down to the next support at 0.58147 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 0.59235 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ chart pattern is existing. 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).

0.59235 – 0.59223 – 0.59287 – 0.58147 – 0.58397 – 0.58492 —
0.59079 – 0.59260 —
60.202278217751 – 62.069224171589 —
– —
0.59235 – 1777305600

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