NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support line at 0.57609 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.58171 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Three Line Strike – Bearish’ candlestick chart pattern is found. The chart shows ‘Three Line Strike – Bearish’. 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 Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.58877 |
| Next High | 0.58171 |
| Current Price | 0.57623 |
| Next Low | 0.57609 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Line Strike – Bearish