NZD/USD – 4H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.

A bearish movement downwards to the next support at 0.54850 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 0.60225 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 0.575705 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 0.60225 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Black Crows’ chart pattern is found. The chart forms ‘Three Black 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 ‘Three Black Crows’ going down is 82%.

Besides a ‘Double top chart pattern’ chart formation is discovered. The chart picture shows ‘Double top chart pattern’. which is a bearish pattern signal. The pair is likely to go down.

Besides a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.

0.60225 – 0.59863 – 0.60291 – 0.58932 – 0.59363 – 0.54850

Download NZD/USD Signal Image

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows