FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market

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 NZDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8001; the lower boundary 0.7963; the width of the pattern 38 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7933 level.

According to the chart of M30, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.7973/0.7988 and upper border is 0.8004/0.7988. The pattern width is measured on the chart at -31 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 NZDCAD breaches the lower border, the price could continue its move toward 0.7958.

According to the chart of M15, NZDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.7973 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -31 pips.

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.7980/0.7985 and upper border is 0.7991/0.7985. The pattern width is measured on the chart at -11 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 NZDCAD breaches the lower border, the price could continue its move toward 0.7970.

The Double Bottom pattern has been formed on NZDCAD M15. Characteristics: the support level 0.7975; the resistance level 0.7993; the width of the pattern 18 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 20 points.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.7990 - 0.0000 and support 0.7983 – 0.7983. In case the resistance level 0.7983 - 0.7983 is broken, the instrument is likely to follow the bearish trend.

The Triple Bottom pattern has formed on the chart of NZDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.7995 with the upper limit 0.7995/0.7989, the projection of the width is 8 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 0.7987, the price is most likely to continue the upward movement.

According to the chart of M30, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8035/0.8046 whereas the upper border goes across 0.8063/0.8046. 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 NZDCAD will breach the upper border to head for 0.8076.

The Double Bottom pattern has been formed on NZDCAD 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 0.8049 is broken. The further movements will rely on the width of the current pattern 13 points.