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 M30; the upper boundary is 0.5919; the lower boundary is 0.5868. The width of the pattern is 50 points. In case of a break of the upper boundary 0.5919, 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 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 0.5880 is broken, the downward movement will continue.

The Double Top pattern has been formed on NZDUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5873 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the NZDUSD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.5873/0.5880 with the upper limit 0.5894/0.5895; the projection of the width is 21 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 0.5873, the price is most likely to continue the downward movement.

According to the chart of H1, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5834 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -47 pips.

According to M5, NZDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.5857/0.5859 is broken out, the instrument is likely to move toward 0.5874.

According to the chart of M5, NZDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.5847 while the median line of the Neck is set at 0.5857/0.5859. 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 0.5874.

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 0.5864 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on NZDUSD M15. Characteristics: the support level 0.5834; the resistance level 0.5847; the width of the pattern 13 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 12 points.

According to M5, NZDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.5881/0.5883 is broken out, the instrument is likely to move toward 0.5898.