NZD/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.58479464 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 0.58683 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58683 |
| Current Price | 0.58639 |
| Next Low | 0.58475 |
| 2nd Low | 0.58285 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows