FX.co ★ Patterns EURUSD | Euro (EUR) to US Dollar (USD) Rate in the Forex market

The Double Bottom pattern has been formed on EURUSD M5; the upper boundary is 1.0399; the lower boundary is 1.0393. The width of the pattern is 7 points. In case of a break of the upper boundary 1.0399, 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 Bottom pattern has been formed on EURUSD H1. 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 1.0478 is broken. The further movements will rely on the width of the current pattern 16 points.

The Double Bottom pattern has been formed on EURUSD M30. Characteristics: the support level 1.0462; the resistance level 1.0478; the width of the pattern 16 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 17 points.

The Double Bottom pattern has been formed on EURUSD M15; the upper boundary is 1.0477; the lower boundary is 1.0466. The width of the pattern is 11 points. In case of a break of the upper boundary 1.0477, 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 Bottom pattern has been formed on EURUSD M5; the upper boundary is 1.0473; the lower boundary is 1.0466. The width of the pattern is 6 points. In case of a break of the upper boundary 1.0473, 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.

According to the chart of M15, EURUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.0507 while the median line of the Neck is set at 1.0567/1.0554. 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 EURUSD will go towards 1.0576.

The Double Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0540 is broken, the downward movement will continue.

The Double Top pattern has been formed on EURUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0523 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the EURUSD 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 1.0616.

According to the chart of M5, EURUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0524 is likely to encourage a continuation of the downward trend.