NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support at 0.57585 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.57859 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candlestick pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57859 |
| Current Price | 0.57712 |
| Next Low | 0.57585 |
| 2nd Low | 0.57534 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows