FX.co ★ Patterns NZDUSD | New Zealand Dollar (NZD) to US Dollar (USD) Rate in the Forex market

According to the chart of M5, NZDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.6009 while the median line of the Neck is set at 0.6020/0.6019. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDUSD will go towards 0.6034.

The Bearish pennant pattern has formed on the NZDUSD M15 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.6008, a trader will be able to successfully enter the sell position.

According to the chart of M30, NZDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6022 is likely to encourage a continuation of the downward trend.

According to the chart of M15, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6022 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -15 pips.

The Double Bottom pattern has been formed on NZDUSD M30. 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 0.6037 is broken. The further movements will rely on the width of the current pattern 15 points.

The Double Bottom pattern has been formed on NZDUSD M15. Characteristics: the support level 0.6022; the resistance level 0.6037; the width of the pattern 15 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 14 points.

The Double Bottom pattern has been formed on NZDUSD M15. 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 0.6034 is broken. The further movements will rely on the width of the current pattern 13 points.

The Double Bottom pattern has been formed on NZDUSD M30; the upper boundary is 0.6034; the lower boundary is 0.6022. The width of the pattern is 13 points. In case of a break of the upper boundary 0.6034, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.6030; the resistance level 0.6048; the width of the pattern 18 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 18 points.

According to the chart of M30, NZDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6068/0.6045 whereas the lower border goes across 0.6016/0.6045. The pattern width is measured on the chart at 52 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.6045 is broken, the price could continue its move toward 0.6075.