NZD/USD – 30M – BUYThe currency pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A bearish descent down to the next support level at 0.55874 is certain.
Caution: A possible change in the direction of the resistance line at 0.56209 should always be considered.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candlestick pattern is existing. The chart forms ‘Bullish Belt Hold’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56640 |
| 2nd High | 0.56462 |
| Next High | 0.56209 |
| Current Price | 0.56150 |
| Next Low | 0.55874 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold