NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.56211 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56462 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Belt Hold’ candlestick chart pattern is existing. The chart shows ‘Bearish Belt Hold’. 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 ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56719 |
| 2nd High | 0.56640 |
| Next High | 0.56462 |
| Current Price | 0.56272 |
| Next Low | 0.56211 |
| 2nd Low | 0.56134 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold