NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 0.57534 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.57859 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57859 |
| Current Price | 0.57789 |
| Next Low | 0.57534 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down