NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support at 0.58852 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.59279 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ chart pattern is found. The chart shows ‘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 likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59470 |
| 2nd High | 0.59286 |
| Next High | 0.59279 |
| Current Price | 0.58804 |
| Next Low | 0.58852 |
| 2nd Low | 0.58806 |
| 3rd Low | 0.58800 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows