NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 0.58359 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.58803 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.58621196 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.58803 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle pattern is existing. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59470 |
| 2nd High | 0.58828 |
| Next High | 0.58803 |
| Current Price | 0.58783 |
| Next Low | 0.58359 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows