FX.co ★ Patterns EURNZD | Euro (EUR) to New Zealand Dollar (NZD) Rate in the Forex market

According to the chart of M5, EURNZD formed the Head and Shoulders pattern. The Head’s top is set at 1.9461 while the median line of the Neck is found at 1.9436/1.9439. 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 EURNZD will go towards 1.9424.

According to the chart of M5, EURNZD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.9414/1.9424 whereas the upper border goes across 1.9431/1.9424. 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 EURNZD will breach the upper border to head for 1.9439.

The Bearish pennant pattern has formed on the EURNZD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.9357 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.

The Double Top pattern has been formed on EURNZD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9391 is broken, the downward movement will continue.

According to the chart of M5, EURNZD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.9318/1.9335 whereas the upper border goes across 1.9360/1.9335. 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 EURNZD will breach the upper border to head for 1.9350.

The Double Bottom pattern has been formed on EURNZD M5; the upper boundary is 1.9334; the lower boundary is 1.9307. The width of the pattern is 26 points. In case of a break of the upper boundary 1.9334, 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.

On the chart of the EURNZD 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 1.9325, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 14 points.

The Double Top reversal pattern has been formed on EURNZD M5. Characteristics: the upper boundary 1.9334; the lower boundary 1.9314; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 1.9314 with a possible movements towards the 1.9299 level.

The Double Bottom pattern has been formed on EURNZD M5. Characteristics: the support level 1.9333; the resistance level 1.9378; the width of the pattern 45 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 46 points.

According to the chart of M5, EURNZD formed the Head and Shoulders pattern. The Head’s top is set at 1.9370 while the median line of the Neck is found at 1.9323/1.9327. 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 EURNZD will go towards 1.9312.