NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 0.59906 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.60259 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Belt Hold’ candlestick pattern is existing. The candles form ‘Bearish Belt Hold’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60822 |
| 2nd High | 0.60786 |
| Next High | 0.60259 |
| Current Price | 0.60284 |
| Next Low | 0.59906 |
| 2nd Low | 0.59903 |
| 3rd Low | 0.59901 |
0.60259 – 0.60786 – 0.60822 – 0.59906 – 0.59903 – 0.59901 —
0.60437 – 0.60406 —
67.682096378563 – 53.555312314455 —
– —
0.60259 – 1770033600
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold – Double top chart pattern – – – – – – – –