NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.56276 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 0.56640 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Belt Hold’ candle chart pattern is found. The chart shows ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.57926 |
| 2nd High | 0.56719 |
| Next High | 0.56640 |
| Current Price | 0.56347 |
| Next Low | 0.56276 |
| 2nd Low | 0.56134 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold