NZD/USD – 1H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline downwards

A continuation of the downward movement down to the next support line at 0.5848 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.59152 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The pair is likely to go down.

Next a ‘StochOSC Hidden Bearish Divergence’ indicator layout is found. The indicator shows ‘StochOSC Hidden Bearish Divergence’. this is usually a bearish chart scenario. The pair is likely to go down.

Next a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.58717018 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 0.59152 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.59152 – 0.59481 – 0.59066 – 0.5848 – 0.58572 – 0.58725 —
0.59155 – 0.59281 —
59.73901970497 – 63.767177477982 —
– —
0.59152 – 1772787600

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down – – – – – – – – –