NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support level at 0.58038 is expected.
Caution: A possible change in the direction of the resistance zone at 0.58877 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candlestick chart pattern is detected. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.58305 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows