NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support at 0.56350 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.56593 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candle chart pattern is detected. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 0.56593 |
| Current Price | 0.56224 |
| Next Low | 0.56350 |
| 2nd Low | 0.56333 |
| 3rd Low | 0.56316 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows