NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 0.58151 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.59044 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Evening Star’ candlestick chart pattern is existing. The candles show ‘Evening Star’. 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 success rate of a ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59279 |
| 2nd High | 0.59109 |
| Next High | 0.59044 |
| Current Price | 0.58488 |
| Next Low | 0.58151 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Evening Star