NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 0.55874 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.56243 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candlestick chart pattern is existing. The chart forms ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56640 |
| 2nd High | 0.56462 |
| Next High | 0.56243 |
| Current Price | 0.56110 |
| Next Low | 0.55874 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold