FX.co ★ Patterns EURUSD | Euro (EUR) to US Dollar (USD) Rate in the Forex market

According to the chart of M30, EURUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.1494 while the median line of the Neck is found at 1.1404/1.1410. 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 EURUSD will go towards 1.1380.

The Triple Bottom pattern has been formed on EURUSD M5. It has the following characteristics: resistance level 1.1448/1.1442; support level 1.1431/1.1431; the width is 17 points. In the event of a breakdown of the resistance level of 1.1448, the price is likely to continue an upward movement at least to 1.1447.

The Double Bottom pattern has been formed on EURUSD M5. Characteristics: the support level 1.1431; the resistance level 1.1448; the width of the pattern 17 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 16 points.

According to the chart of M15, EURUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.1494 while the median line of the Neck is found at 1.1413/1.1431. 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 EURUSD will go towards 1.1408.

According to the chart of M15, EURUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.1434, the lower border is 1.1409. The signal means that a long position should be opened above the upper border 1.1434 of the Bullish Rectangle.

The Double Top pattern has been formed on EURUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.1409 is broken, the downward movement will continue.

The Double Top pattern has been formed on EURUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.1409 is broken, the downward movement will continue.

The Double Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.1417 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on EURUSD 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 1.1369 is broken. The further movements will rely on the width of the current pattern 12 points.

The technical pattern called Head and Shoulders has appeared on the chart of EURUSD M30. There are weighty reasons to suggest that the price will surpass the Neckline 1.1404/1.1412 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.1382.