NZD/USD – 1H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) moves from the ascending trendline down.

A descent downwards to the next support level at is expected.

Caution: A possible change in the direction of the resistance zone at 0.56886 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.564516 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support zone at 0.56886 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.56886 – 0.56905 – 0.5691 – 0.56378 – 0.56342 – 0.5645 —
0.56660 – 0.56677 —
54.427359540317 – 53.591261605169 —
– —
0.56886 – 1763373600

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down – Double top chart pattern – – – –