NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 0.58475 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 0.58886 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.58464124 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 0.58886 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Evening Star’ candlestick pattern is found. The candles show ‘Evening Star’. this 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’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58886 |
| Current Price | 0.58507 |
| Next Low | 0.58475 |
| 2nd Low | 0.58285 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Evening Star