NZD/USD – 1H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.
A bearish descent down to the next support level at 0.58177 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.59423 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Outside Down’ candlestick chart pattern is found. The candles show ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60925 |
| 2nd High | 0.60818 |
| Next High | 0.59423 |
| Current Price | 0.59306 |
| Next Low | 0.58177 |
| 2nd Low | 0.57995 |
| 3rd Low | 0.5485 |
0.59175 – 0.58648 – 0.58678 – 0.58177 – 0.58283 – 0.58518 — 65.425723213798 – 63.550068085839 — 58.490133316066 – 42.185810352548 – 74.625220099894 – 59.819539325876
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down – – –