NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downward movement down to the next support at 0.57585 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.57926 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Down’ chart pattern is found. The candles show ‘Three Outside Down’. which 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 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 | 0.57926 |
| Current Price | 0.57589 |
| Next Low | 0.57585 |
| 2nd Low | 0.57534 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down