NZD/USD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.58542398 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support line at 0.59216 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Black Crows’ candlestick pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59722 |
| 2nd High | 0.59470 |
| Next High | 0.59216 |
| Current Price | 0.58753 |
| Next Low | 0.58634 |
| 2nd Low | 0.58359 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows