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

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 2.0008 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -24 pips.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.5771/0.5780 whereas the upper border goes across 0.5786/0.5780. 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 0.5795.

According to the chart of M15, NZDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5786 and support 0.5775. In case the resistance level 0.5786 - 0.5786 is broken, the instrument is likely to follow the bullish trend.

The NZDJPY M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 90.74, the Neckline and the upward angle are at 90.59/90.61. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDJPY will go towards 90.46.

On the chart of AUDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6653; the lower boundary 0.6646; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6623 level.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.0729 and 1.0698 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 31 pips. Outlook: If the upper border 1.0729 is broken, the price is likely to continue its move by 1.0731.

The Double Top pattern has been formed on AUDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 103.78 is broken, the downward movement will continue.

According to M5, NZDCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.4648/0.4648 is broken out, the instrument is likely to move toward 0.4663.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.7990, the lower border is 0.7984. The signal means that a short position should be opened after fixing a price below the lower border 0.7984 of the Bearish Rectangle.

On the chart of the AUDCAD H1 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 0.9179, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 22 points.