NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
A descent down to the next support line at 0.58806 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.58922 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Evening Star’ chart pattern is detected. The chart forms ‘Evening Star’. this 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 ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59047 |
| 2nd High | 0.58970 |
| Next High | 0.58922 |
| Current Price | 0.58990 |
| Next Low | 0.58806 |
| 2nd Low | 0.58800 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Evening Star