NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.57677 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.57225 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 0.57677 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘On Neck’ candle chart pattern is detected. The candles form ‘On Neck’. 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 ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58171 |
| 2nd High | 0.57926 |
| Next High | 0.57677 |
| Current Price | 0.57198 |
| Next Low | |
| 2nd Low | |
| 3rd Low |