Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.58388 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 0.58803 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. which is a negative chart scenario. The 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’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.59470 |
2nd High | 0.58828 |
Next High | 0.58803 |
Current Price | 0.58538 |
Next Low | 0.58470 |
2nd Low | 0.58388 |
3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows