NZD/USD – 1H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline downwards

A continuation of the downtrend downwards to the next support at 0.60187 is certain.

Caution: A possible trend reversal in the direction of the resistance zone at 0.60479 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘StochRSI %K line crosses below %D line’ indicator signal is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The pair is likely to go down.

Then a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. 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 certain. Current target is 0.6027261 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 0.60479 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Three Outside Down’ candle chart pattern is detected. The candles form ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

0.60479 – 0.60503 – 0.60756 – 0.60187 – 0.60141 – 0.60252 —
0.60268 – 0.60495 —
40.722308745534 – 61.32115287353 —
– —
0.60479 – 1771239600

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