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

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6061/0.6039 whereas the lower border goes across 0.6016/0.6039. The pattern width is measured on the chart at 45 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.6039 is broken, the price could continue its move toward 0.6054.

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 0.6036 and support 0.6026. In case the resistance level 0.6036 - 0.6036 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.6045; the lower boundary 0.6021; the width of the pattern is 25 points. Sell trades are better to be opened below the lower boundary 0.6021 with a possible movements towards the 0.6006 level.

According to the chart of M5, NZDUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6042, the lower border is 0.6034. The signal means that a short position should be opened after fixing a price below the lower border 0.6034 of the Bearish Rectangle.

The Double Bottom pattern has been formed on NZDUSD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.6041 is broken. The further movements will rely on the width of the current pattern 7 points.

According to the chart of M5, NZDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6035 while the median line of the Neck is found at 0.6024/0.6025. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of NZDUSD will go towards 0.6010.

According to the chart of M30, NZDUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.5982/0.5996 and upper border is 0.6007/0.5996. The pattern width is measured on the chart at -25 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDUSD breaches the lower border, the price could continue its move toward 0.5966.

According to the chart of M30, NZDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.5982 – 0.5982 and upper border 0.6006 – 0.6006. In case the lower border is broken, the instrument is likely to follow the downward trend.

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 0.5990 is broken, the downward movement will continue.

On the chart of the NZDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5966, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 6 points.