NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A bearish movement down to the next support at 0.58388 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.58828 could occur.
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 persist. Current target is 0.58388 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.58828 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Black Crows’ candlestick pattern is discovered. The candles form ‘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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59722 |
| 2nd High | 0.59470 |
| Next High | 0.58828 |
| Current Price | 0.58518 |
| Next Low | 0.58388 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows