NZD/USD – 1H – SELL

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

A continuation of the downtrend downwards to the next support at 0.57986 will continue.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.58473 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 0.57789 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of support at 0.58473 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Matching Low’ candlestick chart pattern is discovered. The chart shows ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

0.58473 – 0.58366 – 0.58867 – 0.57986 – 0.57789 – 0.58506 —
0.58416 – 0.58165 —
56.272967948748 – 43.137277734475 —
– —
0.58473 – 1780995600

Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low – – – – – – – – –