NZD/USD – 1H – SELLThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.56134 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.56431 could occur.
Consider stop-loss settings accordingly.
Then a ‘Bearish Belt Hold’ candle chart pattern is existing. The candles show ‘Bearish Belt Hold’. which is a bearish 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’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56607 |
| 2nd High | 0.56593 |
| Next High | 0.56431 |
| Current Price | 0.56402 |
| Next Low | 0.56134 |
| 2nd Low | 0.56123 |
| 3rd Low | 0.56076 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold