NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A descent downwards to the next support at 0.58388 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.58828 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.58388 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.58828 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59722 |
| 2nd High | 0.59470 |
| Next High | 0.58828 |
| Current Price | 0.58518 |
| Next Low | 0.58388 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows