NZD/USD – 4H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.58285 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.58886 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Evening Star’ candlestick pattern is found. The candles show ‘Evening Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60374 |
| 2nd High | 0.59286 |
| Next High | 0.58886 |
| Current Price | 0.58635 |
| Next Low | 0.58285 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Evening Star