NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A descending movement down to the next support at 0.56123 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.56593 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick chart pattern is found. The candles show ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 0.56226 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows