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

The Double Top reversal pattern has been formed on EURNZD M5. Characteristics: the upper boundary 1.9087; the lower boundary 1.9067; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 1.9067 with a possible movements towards the 1.9052 level.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9084; the lower boundary 1.9056; the width of the pattern 28 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9041 level.

The Double Bottom pattern has been formed on EURNZD M15; the upper boundary is 1.9057; the lower boundary is 1.9027. The width of the pattern is 29 points. In case of a break of the upper boundary 1.9057, 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 Triple Bottom pattern has been formed on EURNZD M5. It has the following characteristics: resistance level 1.9096/1.9057; support level 1.9029/1.9028; the width is 67 points. In the event of a breakdown of the resistance level of 1.9096, the price is likely to continue an upward movement at least to 1.9045.

According to the chart of M5, EURNZD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9072/1.9108 and upper border is 1.9137/1.9108. The pattern width is measured on the chart at -65 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and EURNZD breaches the lower border, the price could continue its move toward 1.9093.

According to the chart of M5, EURNZD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9139 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -34 pips.

According to the chart of M5, EURNZD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9121/1.9174 and upper border is 1.9236/1.9174. The pattern width is measured on the chart at -115 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and EURNZD breaches the lower border, the price could continue its move toward 1.9159.

On the chart of the EURNZD M15 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 1.9107, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 76 points.

The Double Top reversal pattern has been formed on EURNZD M15. Characteristics: the upper boundary 1.9183; the lower boundary 1.9107; the width of the pattern is 78 points. Sell trades are better to be opened below the lower boundary 1.9107 with a possible movements towards the 1.9085 level.

The Double Bottom pattern has been formed on EURNZD M5. Characteristics: the support level 1.8992; the resistance level 1.9020; the width of the pattern 28 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 26 points.