NZD/USD – 30M – BUYThe combination New Zealand Dollar/US Dollar (NZD/USD) jumps from the ascending trendline downwards
A bearish movement downwards to the next support line at 0.59255 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.59508 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bullish Belt Hold’ chart pattern is found. The candles form ‘Bullish Belt Hold’. which is a positive 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’ going up is 71% (Bull Market) & 71% (Bear Market).
Also there is a ‘Double top chart pattern’ chart pattern is existing. The chart picture forms ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59863 |
| 2nd High | 0.59784 |
| Next High | 0.59508 |
| Current Price | 0.59311 |
| Next Low | 0.59255 |
| 2nd Low | 0.58979 |
| 3rd Low | 0.58859 |
0.59508 – 0.59460 – 0.59493 – 0.59255 – 0.58979 – 0.59264
Trading Signals: FOREX – NZD – NZD/USD – USD – Bullish Belt Hold