NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.
A continuation of the downward movement down to the next support level at 0.58737 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.59216 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candle chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59722 |
| 2nd High | 0.59470 |
| Next High | 0.59216 |
| Current Price | 0.58859 |
| Next Low | 0.58737 |
| 2nd Low | 0.58359 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows