NZD/USD – 1H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline downwards

A descent down to the next support at 0.60061 is certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.60651 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.60134 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.60651 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Black Crows’ chart pattern is found. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.

0.60651 – 0.60799 – 0.60542 – 0.60061 – 0.59914 – 0.59870

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