NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline down.
A descending movement down to the next support line at 0.55715 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56023 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.55715 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 0.56023 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56126 |
| 2nd High | 0.56030 |
| Next High | 0.56023 |
| Current Price | 0.55828 |
| Next Low | 0.55715 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows