NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 0.57585 will persist.
Caution: A possible change in the direction of the resistance level at 0.57859 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candle pattern is existing. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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 | 0.57635 |
| Next Low | 0.57585 |
| 2nd Low | 0.57534 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows