NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.56333 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.56593 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ chart pattern is found. The chart forms ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56593 |
| Current Price | 0.56266 |
| Next Low | 0.56333 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows