NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance at 0.59907 is certain.
Caution: A possible trend reversal in the direction of the support line at 0.59223 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bullish Belt Hold’ candlestick chart pattern is detected. The candles show ‘Bullish Belt Hold’. which is a positive 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 ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.6079 |
| 2nd High | 0.60581 |
| Next High | 0.59907 |
| Current Price | 0.59784 |
| Next Low | 0.59223 |
| 2nd Low | 0.58789 |
| 3rd Low | 0.58775 |
0.59634 – 0.59594 – 0.59175 – 0.59223 – 0.59287 – 0.58789 — 75.324961489219 – 76.967827031613 — 94.016397306638 – 95.582308836307 – 94.014927090028 – 94.925794763291
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold – – –