NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.58359 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.58838 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 0.58359 at the Fibonacci level 1-Level. Caution: A possible change in the direction of support at 0.58838 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. 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 | 0.59216 |
| 2nd High | 0.58855 |
| Next High | 0.58838 |
| Current Price | 0.58456 |
| Next Low | 0.58359 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows