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

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5845; the resistance level 0.5851; the width of the pattern 6 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 6 points.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.5861/0.5870 whereas the upper border goes across 0.5878/0.5870. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDUSD will breach the upper border to head for 0.5885.

According to the chart of M5, NZDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.5841 while the median line of the Neck is set at 0.5857/0.5855. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDUSD will go towards 0.5870.

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 0.5844 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -18 pips.

According to the chart of H1, NZDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5883 - 0.0000 and support 0.5810 – 0.5810. In case the resistance level 0.5810 - 0.5810 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5830; the resistance level 0.5841; the width of the pattern 11 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.

On the chart of the NZDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5828, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 9 points.

According to the chart of M30, NZDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.5810 while the median line of the Neck is set at 0.5835/0.5833. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDUSD will go towards 0.5863.

According to the chart of M30, NZDUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.5833 while the median line of the Neck is found at 0.5810/0.5821. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDUSD will go towards 0.5863

According to M5, NZDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.5834/0.5833 is broken out, the instrument is likely to move toward 0.5848.