NZD/USD – 1H – SELL

The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline downwards

A bearish descent downwards to the next support level at 0.56891 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 0.57166 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Bearish Belt Hold’ candle pattern is detected. The chart forms ‘Bearish Belt Hold’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

0.57166 – 0.56894 – 0.569 – 0.56891 – 0.56608 – 0.56404 —
0.57096 – 0.57146 —
63.504019760952 – 58.757266091916 —
– —
0.57166 – 1783004400

Trading Signals: FOREX – NZD – NZD/USD – USD – Bearish Belt Hold – – – – – – – – –