NZD/USD – 4H – SELL

The currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.

A descending movement downwards to the next support line at 0.57106 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 0.58011 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Three Outside Down’ chart pattern is discovered. The chart forms ‘Three Outside Down’. 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 success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.57512 – 0.5691 – 0.56698 – 0.57106 – 0.55909 – 0.55791 —
0.57563 – 0.57784 —
61.503657924508 – 64.922168795981 —
– —
0.57512 – 1764590400

Trading Signals: FOREX – NZD – NZD/USD – USD – Three Outside Down – – – – – – – – –