NZD/USD – 4H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descending movement down to the next support level at 0.56134 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.56593 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Two Crows’ chart pattern is discovered. The chart forms ‘Two Crows’. 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 probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.56719 |
| Next High | 0.56593 |
| Current Price | 0.55930 |
| Next Low | 0.56134 |
| 2nd Low | 0.56076 |
| 3rd Low |