NZD/USD – 30M – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) moves from the bullish trendline down.
A descent down to the next support at 0.55849 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.56307 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Belt Hold’ candle pattern is existing. The candles show ‘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 success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.56922 |
| 2nd High | 0.56414 |
| Next High | 0.56307 |
| Current Price | 0.56018 |
| Next Low | 0.55849 |
| 2nd Low | 0.55410 |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold