NZD/USD – 30M – SELLAdditionally a ‘Double top chart pattern’ chart layout is discovered. The chart picture forms ‘Double top chart pattern’. which is a negative signal. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.60321736 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.60655 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Two Crows’ candlestick pattern is discovered. The chart forms ‘Two Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.60799 |
| Next High | 0.60655 |
| Current Price | 0.60311 |
| Next Low | 0.60231 |
| 2nd Low | 0.60061 |
| 3rd Low | 0.59914 |
0.60655 – 0.60616 – 0.60570 – 0.60231 – 0.60239 – 0.60374