NZD/USD – 1H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A descent down to the next support level at 0.58517 is expected.
Caution: A possible change in the direction of resistance at 0.59044 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘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 | 0.59279 |
| 2nd High | 0.59109 |
| Next High | 0.59044 |
| Current Price | 0.58640 |
| Next Low | 0.58517 |
| 2nd Low | 0.58285 |
| 3rd Low | 0.58151 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows