NZD/USD – 4H – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A bearish trend down to the next support level at 0.55865 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56922 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Belt Hold’ candlestick chart pattern is discovered. The candles form ‘Bearish Belt Hold’. which is a negative pattern signal. The currency pair is likely to fall. 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 | 0.58886 |
| 2nd High | 0.57926 |
| Next High | 0.56922 |
| Current Price | 0.55902 |
| Next Low | 0.55865 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold