NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A descending movement downwards to the next support at 0.57108 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.57551 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.57107 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 0.57551 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Two Crows’ candlestick pattern is existing. The candles form ‘Two Crows’. which is a bearish chart scenario. 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).
Then a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57671 |
| 2nd High | 0.57621 |
| Next High | 0.57551 |
| Current Price | 0.57027 |
| Next Low | 0.57108 |
| 2nd Low | 0.57107 |
| 3rd Low | 0.57097 |
0.57551 – 0.57621 – 0.57501 – 0.57108 – 0.57113 – 0.57136