NZD/USD – 4H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.

The bearish trend downwards to the next support at 0.59235 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 0.60875 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.59350946 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 0.60875 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.

0.60875 – 0.60710 – 0.60799 – 0.59948 – 0.60061 – 0.59235

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows