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

The Triple Top pattern has formed on the chart of the NZDUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.5741/0.5743 with the upper limit 0.5747/0.5747; the projection of the width is 6 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.5741, the price is most likely to continue the downward movement.

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 0.5734 – 0.5734 and upper border 0.5742 – 0.5742. In case the lower border is broken, the instrument is likely to follow the downward trend.

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 0.5740 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on NZDUSD 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 0.5739 is broken. The further movements will rely on the width of the current pattern 9 points.

The NZDUSD M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.5757, the Neckline and the upward angle are at 0.5733/0.5733. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDUSD will go towards 0.5703.

The NZDUSD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.5757, the Neckline and the upward angle are at 0.5740/0.5739. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDUSD will go towards 0.5717.

The Double Bottom pattern has been formed on NZDUSD M15. Characteristics: the support level 0.5705; the resistance level 0.5717; the width of the pattern 12 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.

The Triple Bottom pattern has been formed on NZDUSD M5. It has the following characteristics: resistance level 0.5716/0.5713; support level 0.5707/0.5707; the width is 9 points. In the event of a breakdown of the resistance level of 0.5716, the price is likely to continue an upward movement at least to 0.5722.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5707; the resistance level 0.5716; 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.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5736; the lower boundary 0.5718; the width of the pattern is 18 points. Sell trades are better to be opened below the lower boundary 0.5718 with a possible movements towards the 0.5703 level.