FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Bearish Flag pattern has been formed on the chart NZDUSD M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.5987, traders should enter the market.

The Bearish pennant pattern has formed on the NZDUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5987 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Top reversal pattern has been formed on NZDUSD M30. Characteristics: the upper boundary 0.6008; the lower boundary 0.5992; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 0.5992 with a possible movements towards the 0.5962 level.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.5988/0.5994 whereas the upper border goes across 0.5999/0.5994. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDUSD will breach the upper border to head for 0.6009.

The Double Top pattern has been formed on NZDUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5988 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the NZDUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.5989/0.5990 with the upper limit 0.5995/0.5997; the projection of the width is 6 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.5989, the price is most likely to continue the downward movement.

According to the chart of D1, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6088, the lower border is 0.5923. The signal means that a long position should be opened above the upper border 0.6088 of the Bullish Rectangle.

The Double Top pattern has been formed on NZDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5989 is broken, the downward movement will continue.

According to the chart of M5, NZDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5970 and support 0.5959. In case the resistance level 0.5970 - 0.5970 is broken, the instrument is likely to follow the bullish trend.

On the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5969; the lower boundary 0.5960; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5938 level.