NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A descent downwards to the next support level at 0.58359 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.59216 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.58542398 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.59216 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. this is a bearish pattern 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 ‘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 | 0.58646 |
| Next Low | 0.58359 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows