NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline downwards
The bearish trend downwards to the next support level at 0.58038 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.58877 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.58275416 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 0.58877 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a negative pattern 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 | 0.59044 |
| 2nd High | 0.58886 |
| Next High | 0.58877 |
| Current Price | 0.58463 |
| Next Low | 0.58038 |
| 2nd Low | 0.57965 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows