The combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards
A bearish movement downwards to the next support line at 0.58151 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.58886 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.59109 |
2nd High | 0.59044 |
Next High | 0.58886 |
Current Price | 0.58250 |
Next Low | 0.58151 |
2nd Low | 0.57965 |
3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows