FX.co ★ Patterns EURNZD | Euro (EUR) to New Zealand Dollar (NZD) Rate in the Forex market

The Triple Top pattern has formed on the chart of the EURNZD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -4, support level -19, and pattern’s width 45. Forecast If the price breaks through the support level 1.7910, it is likely to move further down to 1.7931.

On the chart of the EURNZD 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 1.7910, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 45 points.

The Double Top pattern has been formed on EURNZD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.7910 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on EURNZD M5. Characteristics: the upper boundary 1.7955; the lower boundary 1.7910; the width of the pattern is 43 points. Sell trades are better to be opened below the lower boundary 1.7910 with a possible movements towards the 1.7895 level.

The Double Bottom pattern has been formed on EURNZD M15; the upper boundary is 1.7872; the lower boundary is 1.7862. The width of the pattern is 10 points. In case of a break of the upper boundary 1.7872, 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 EURNZD M15. Characteristics: the support level 1.7901; the resistance level 1.7932; the width of the pattern 31 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 29 points.

The Double Bottom pattern has been formed on EURNZD M5. Characteristics: the support level 1.7927; the resistance level 1.7934; the width of the pattern 7 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 7 points.

The Double Bottom pattern has been formed on EURNZD M5; the upper boundary is 1.7932; the lower boundary is 1.7927. The width of the pattern is 5 points. In case of a break of the upper boundary 1.7932, 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 Triple Bottom pattern has formed on the chart of the EURNZD M30 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.7965/1.7925.

According to the chart of M15, EURNZD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.7901 is likely to encourage a continuation of the downward trend.