NZD/USD – 1H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the bearish trendline up.
An ascent upwards to the next resistance line at 0.60479 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.60187 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Belt Hold’ candlestick chart pattern is discovered. The chart forms ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60756 |
| 2nd High | 0.60503 |
| Next High | 0.60479 |
| Current Price | 0.60271 |
| Next Low | 0.60187 |
| 2nd Low | 0.60141 |
| 3rd Low | 0.59967 |
0.60479 – 0.60503 – 0.60756 – 0.60187 – 0.60141 – 0.60252 —
0.60369 – 0.60304 —
44.632486239392 – 37.424224738772 —
– —
0.60479 – 1771239600
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –