NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline downwards
A bearish movement down to the next support line at is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.58171 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 0.57609 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 0.58171 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ chart pattern is found. 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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58171 |
| Current Price | 0.57567 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows