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. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8051 - 0.0000 and support 0.8043 – 0.8043. In case the resistance level 0.8043 - 0.8043 is broken, the instrument is likely to follow the bearish trend.

The Triple Bottom pattern has formed on the chart of the NZDCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.8050/0.8048.

The Double Top pattern has been formed on NZDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8056 is broken, the downward movement will continue.

According to the chart of M15, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8049, the lower border is 0.8038. The signal means that a long position should be opened above the upper border 0.8049 of the Bullish Rectangle.

The Double Bottom pattern has been formed on NZDCAD 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 0.8034 is broken. The further movements will rely on the width of the current pattern 4 points.

According to the chart of M15, NZDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8037 while the median line of the Neck is found at 0.8015/0.8024. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.8059

The Double Top pattern has been formed on NZDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8015 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on NZDCAD M15. Characteristics: the support level 0.8026; the resistance level 0.8036; the width of the pattern 10 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 11 points.

On the chart of NZDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8066; the lower boundary 0.8051; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8011 level.

On the chart of NZDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8066; the lower boundary 0.8054; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8024 level.