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 Symmetrical Triangle pattern. Description: The lower border is 0.8234/0.8251 and upper border is 0.8265/0.8251. 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 0.8236.

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 0.8234 is broken, the downward movement will continue.

The technical pattern called Head and Shoulders has appeared on the chart of NZDCAD H1. There are weighty reasons to suggest that the price will surpass the Neckline 0.8239/0.8244 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.8204.

The Double Top pattern has been formed on NZDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8239 is broken, the downward movement will continue.

The Bullish Flag pattern has been formed on NZDCAD at M15. The lower boundary of the pattern is located at 0.8238/0.8232, while the higher boundary lies at 0.8246/0.8240. The projection of the flagpole is 20 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.8246 is broken, the price will move further upwards.

The Bullish pennant graphic pattern has formed on the NZDCAD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.8268.

The Double Bottom pattern has been formed on NZDCAD H1; the upper boundary is 0.8239; the lower boundary is 0.8222. The width of the pattern is 19 points. In case of a break of the upper boundary 0.8239, 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.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8234; the lower boundary 0.8229; the width of the pattern is 5 points. Sell trades are better to be opened below the lower boundary 0.8229 with a possible movements towards the 0.8214 level.

The Triple Bottom pattern has formed on the chart of NZDCAD M30. Features of the pattern: The lower line of the pattern has coordinates 0.8244 with the upper limit 0.8244/0.8238, the projection of the width is 20 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 0.8224, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on NZDCAD M15. It has the following characteristics: resistance level 0.8244/0.8239; support level 0.8224/0.8220; the width is 20 points. In the event of a breakdown of the resistance level of 0.8244, the price is likely to continue an upward movement at least to 0.8250.