NZD/USD – 1H – SELLThe combination jumps from the ascending trendline downwards
A descent downwards to the next support level at 0.59573 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.59972 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.59573 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 0.59972 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60315 |
| 2nd High | 0.60130 |
| Next High | 0.59972 |
| Current Price | 0.59689 |
| Next Low | 0.59573 |
| 2nd Low | |
| 3rd Low |