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

The Triple Bottom pattern has formed on the chart of EURNZD M15. Features of the pattern: The lower line of the pattern has coordinates 2.0211 with the upper limit 2.0211/2.0209, the projection of the width is 17 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 2.0194, the price is most likely to continue the upward movement.

According to the chart of M15, EURNZD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2.0211 - 0.0000 and support 2.0193 – 2.0193. In case the resistance level 2.0193 - 2.0193 is broken, the instrument is likely to follow the bearish trend.

The Triple Bottom pattern has formed on the chart of the EURNZD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 2.0254/2.0211.

The Double Bottom pattern has been formed on EURNZD M15; the upper boundary is 2.0254; the lower boundary is 2.0193. The width of the pattern is 62 points. In case of a break of the upper boundary 2.0254, 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.

According to the chart of M5, EURNZD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 2.0193 while the median line of the Neck is set at 2.0205/2.0203. 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 EURNZD will go towards 2.0218.

The Double Bottom pattern has been formed on EURNZD 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 2.0203 is broken. The further movements will rely on the width of the current pattern 6 points.

According to the chart of M5, EURNZD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 2.0237/2.0226 whereas the lower border goes across 2.0216/2.0226. The pattern width is measured on the chart at 21 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 2.0226 is broken, the price could continue its move toward 2.0241.

The Bullish Flag pattern has been formed on the chart EURNZD M30 which signals that the upward trend will continue. Signals: а break of the peak at 2.0230 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant pattern is formed on the EURNZD M30 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 2.0230, a further uptrend is possible.

The Triple Bottom pattern has been formed on EURNZD M5. It has the following characteristics: resistance level 2.0140/2.0118; support level 2.0111/2.0104; the width is 29 points. In the event of a breakdown of the resistance level of 2.0140, the price is likely to continue an upward movement at least to 2.0124.