NZD/USD – 4H – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) breaks through the descending trendline upwards
A bullish trend up to the next resistance at 0.60125 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 0.5942 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Belt Hold’ chart pattern is detected. The candles show ‘Bullish Belt Hold’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.60756 |
| 2nd High | 0.60527 |
| Next High | 0.60125 |
| Current Price | 0.60001 |
| Next Low | 0.5942 |
| 2nd Low | 0.59375 |
| 3rd Low | 0.59279 |
0.60125 – 0.6003 – 0.60527 – 0.5942 – 0.59375 – 0.60141 —
0.60125 – 0.59935 —
61.093378108783 – 52.048357584191 —
0.60125 – 1772078400 —
– 1772078400
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold – Symmetrical Triangle Chart Pattern – – – – – – – –