FX.co ★ Patterns EURUSD | Euro (EUR) to US Dollar (USD) Rate in the Forex market

The Double Top reversal pattern has been formed on EURUSD H1. Characteristics: the upper boundary 1.1721; the lower boundary 1.1643; the width of the pattern is 80 points. Sell trades are better to be opened below the lower boundary 1.1643 with a possible movements towards the 1.1603 level.

The Double Bottom pattern has been formed on EURUSD M5. Characteristics: the support level 1.1694; the resistance level 1.1700; the width of the pattern 6 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 6 points.

According to the chart of M5, EURUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.1671/1.1662 whereas the lower border goes across 1.1652/1.1662. The pattern width is measured on the chart at 19 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.1662 is broken, the price could continue its move toward 1.1677.

On the chart of EURUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1708; the lower boundary 1.1684; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.1669 level.

The Double Bottom pattern has been formed on EURUSD 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 1.1518 is broken. The further movements will rely on the width of the current pattern 13 points.

The Triple Top pattern has formed on the chart of the EURUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.1539/1.1540 with the upper limit 1.1546/1.1545; the projection of the width is 7 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.1539, the price is most likely to continue the downward movement.

According to the chart of M5, EURUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.1546 and support 1.1539. In case the resistance level 1.1546 - 1.1546 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on EURUSD M15. Characteristics: the upper boundary 1.1546; the lower boundary 1.1539; the width of the pattern is 6 points. Sell trades are better to be opened below the lower boundary 1.1539 with a possible movements towards the 1.1516 level.

According to the chart of M5, EURUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.1538/1.1542 whereas the upper border goes across 1.1546/1.1542. 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 EURUSD will breach the upper border to head for 1.1557.

According to the chart of M5, EURUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.1515 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -23 pips.