NZD/USD – 4H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A descending movement downwards to the next support at 0.56134 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56593 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Belt Hold’ candle pattern is discovered. The candles form ‘Bearish Belt Hold’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘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 | 0.56593 |
| Current Price | 0.56286 |
| Next Low | 0.56134 |
| 2nd Low | 0.56076 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold