NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support level at is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.59508 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair is likely to fall.
Moreover a ‘Two Crows’ candle pattern is existing. The chart forms ‘Two Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59863 |
| 2nd High | 0.59784 |
| Next High | 0.59508 |
| Current Price | 0.59248 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.59508 – 0.59460 – 0.59493 – 0.59255 – 0.58979 – 0.59264