NZD/USD – 1H – BUY

The combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline downwards

A continuation of the bearish trend down to the next support at 0.56333 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 0.56519 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 0.56250544 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 0.56519 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Outside Down’ candlestick chart pattern is found. The candles form ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to fall. 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).

Download NZD/USD Signal Image

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down