NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support level at 0.56123 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56619 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Outside Down’ candle pattern is found. The candles form ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57677 |
| 2nd High | 0.57369 |
| Next High | 0.56619 |
| Current Price | 0.56318 |
| Next Low | 0.56123 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down