FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market

The Double Bottom pattern has been formed on NZDCAD M30. Characteristics: the support level 0.8164; the resistance level 0.8177; the width of the pattern 13 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 12 points.

The Triple Bottom pattern has been formed on NZDCAD M15. It has the following characteristics: resistance level 0.8181/0.8177; support level 0.8164/0.8165; the width is 17 points. In the event of a breakdown of the resistance level of 0.8181, the price is likely to continue an upward movement at least to 0.8189.

The Bearish pennant pattern has formed on the NZDCAD M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.8165 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.

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8184 is likely to encourage a continuation of the downward trend.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8182, the lower border is 0.8175. The signal means that a short position should be opened after fixing a price below the lower border 0.8175 of the Bearish Rectangle.

The Double Bottom pattern has been formed on NZDCAD 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 0.8181 is broken. The further movements will rely on the width of the current pattern 6 points.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8141; the lower boundary 0.8122; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8107 level.

According to the chart of M5, NZDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8142 and support 0.8137. In case the resistance level 0.8142 - 0.8142 is broken, the instrument is likely to follow the bullish trend.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8142; the lower boundary 0.8137; the width of the pattern 5 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8122 level.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8083/0.8076 whereas the lower border goes across 0.8069/0.8076. The pattern width is measured on the chart at 14 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8076 is broken, the price could continue its move toward 0.8091.