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

The Double Bottom pattern has been formed on NZDCAD D1. 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 0.8087 is broken. The further movements will rely on the width of the current pattern 171 points.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8110 and 0.8076 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 34 pips. Outlook: If the upper border 0.8110 is broken, the price is likely to continue its move by 0.8106.

According to the chart of M15, NZDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.8085 while the median line of the Neck is found at 0.8069/0.8068. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.8045.

The Double Bottom pattern has been formed on NZDCAD D1. Characteristics: the support level 0.7916; the resistance level 0.8087; the width of the pattern 171 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 168 points.

The Double Bottom pattern has been formed on NZDCAD D1. 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 0.8087 is broken. The further movements will rely on the width of the current pattern 171 points.

The Double Bottom pattern has been formed on NZDCAD M30. Characteristics: the support level 0.8007; the resistance level 0.8022; the width of the pattern 15 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 16 points.

According to the chart of M15, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8007/0.8015 and upper border is 0.8024/0.8015. The pattern width is measured on the chart at -17 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 0.7993.

The Triple Bottom pattern has been formed on NZDCAD M30. It has the following characteristics: resistance level 0.8026/0.8023; support level 0.8010/0.8009; the width is 16 points. In the event of a breakdown of the resistance level of 0.8026, the price is likely to continue an upward movement at least to 0.8037.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8039; the lower boundary 0.8018; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 0.8018 with a possible movements towards the 0.8003 level.

The Double Bottom pattern has been formed on NZDCAD M30. 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 0.8048 is broken. The further movements will rely on the width of the current pattern 21 points.