FX.co ★ Patterns NZDUSD | New Zealand Dollar (NZD) to US Dollar (USD) Rate in the Forex market

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5844; the lower boundary 0.5825; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 0.5825 with a possible movements towards the 0.5810 level.

The Triple Bottom pattern has formed on the chart of the NZDUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.5693/0.5690.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5700 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -10 pips.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5733; the resistance level 0.5742; the width of the pattern 9 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 9 points.

On the chart of NZDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5734; the lower boundary 0.5723; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5708 level.

The Bullish pennant pattern is formed on the NZDUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.5736, a further uptrend is possible.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.5700 is likely to encourage a continuation of the downward trend.

According to the chart of M5, NZDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.5900 – 0.5900 and upper border 0.5913 – 0.5913. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Triple Top pattern has formed on the chart of the NZDUSD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -3, support level -5, and pattern’s width 18. Forecast If the price breaks through the support level 0.5920, it is likely to move further down to 0.5918.

The Double Top pattern has been formed on NZDUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5918 is broken, the downward movement will continue.