NZD/USD – 30M – SELLThe combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline downwards
A descent down to the next support at 0.56211 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.56431 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Belt Hold’ candlestick pattern is existing. The candles form ‘Bearish Belt Hold’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading 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 | 0.56535 |
| Next Low | 0.56211 |
| 2nd Low | 0.56134 |
| 3rd Low | 0.56123 |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold