NZD/USD – 4H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
The bearish trend down to the next support line at 0.56076 will persist.
Caution: A possible change in the direction of resistance at 0.56719 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Three Outside Down’ candle pattern is discovered. The chart shows ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58886 |
| 2nd High | 0.57926 |
| Next High | 0.56719 |
| Current Price | 0.56361 |
| Next Low | 0.56076 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down