NZD/USD – 30M – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline down.
A continuation of the downtrend down to the next support line at 0.58517 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.59044 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going 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 | 0.58475 |
| 3rd Low | 0.58285 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows