NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.58038 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.58877 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Evening Star’ candle chart pattern is existing. The candles show ‘Evening Star’. which 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 probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.58209 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Evening Star