NZD/USD – 1H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline downwards

A descending movement down to the next support level at 0.58177 will continue.

Caution: A possible trend reversal in the direction of the resistance line at 0.59906 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.

Additionally a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

0.59906 – 0.59746 – 0.59795 – 0.58177 – 0.58283 – 0.58518 — 50.313997932046 – 48.688667660699 — 3.5070458357408 – 1.9928664439789 – 3.3671930749516 – 2.3380305571605

Trading Signals: FOREX – NZD – NZD/USD – USD – Northern Doji – Double bottom chart pattern – –