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

According to the chart of M30, NZDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.5947 – 0.5947 and upper border 0.5971 – 0.5971. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of NZDUSD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5971; the lower boundary 0.5947; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5907 level.

The Bearish Flag pattern has been formed on the chart NZDUSD M5 which signals that the downward trend will continue. If the price breaks below the low at 0.5947, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (10 points).

The Bearish pennant pattern has formed on the NZDUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.5947, a trader will be able to successfully enter the sell position.

The Double Top reversal pattern has been formed on NZDUSD M30. Characteristics: the upper boundary 0.5970; the lower boundary 0.5947; the width of the pattern is 24 points. Sell trades are better to be opened below the lower boundary 0.5947 with a possible movements towards the 0.5917 level.

The Double Top pattern has been formed on NZDUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5947 is broken, the downward movement will continue.

According to the chart of M15, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5970, the lower border is 0.5947. The signal means that a long position should be opened above the upper border 0.5970 of the Bullish Rectangle.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.5970 and 0.5944 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 26 pips. Outlook: If the upper border 0.5970 is broken, the price is likely to continue its move by 0.5972.

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 0.5917, a further uptrend is possible.

The Double Top pattern has been formed on NZDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5886 is broken, the downward movement will continue.