NZD/USD – 30M – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 0.56349 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.56538 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 0.56250544 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.56538 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56607 |
| Next High | 0.56538 |
| Current Price | 0.56393 |
| Next Low | 0.56349 |
| 2nd Low | 0.56316 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows