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 M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 15, support level -4, and pattern’s width 83. Forecast If the price breaks through the support level 1.9412, it is likely to move further down to 1.9458.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9473; the lower boundary 1.9412; the width of the pattern 61 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9397 level.

The Double Bottom pattern has been formed on EURNZD M30. 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 1.9443 is broken. The further movements will rely on the width of the current pattern 110 points.

The Triple Bottom pattern has formed on the chart of EURNZD M15. Features of the pattern: The lower line of the pattern has coordinates 1.9443 with the upper limit 1.9443/1.9398, the projection of the width is 110 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.9333, the price is most likely to continue the upward movement.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9908; the lower boundary 1.9725; the width of the pattern 183 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9710 level.

The Double Bottom pattern has been formed on EURNZD 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 1.9896 is broken. The further movements will rely on the width of the current pattern 129 points.

The Double Top pattern has been formed on EURNZD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9825 is broken, the downward movement will continue.

The technical pattern called Head and Shoulders has appeared on the chart of EURNZD M5. There are weighty reasons to suggest that the price will surpass the Neckline 1.9891/1.9903 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.9888.

According to the chart of H1, EURNZD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.9835, the lower border is 1.9412. The signal means that a long position should be opened above the upper border 1.9835 of the Bullish Rectangle.

The Double Top reversal pattern has been formed on EURNZD H1. Characteristics: the upper boundary 1.9834; the lower boundary 1.9606; the width of the pattern is 222 points. Sell trades are better to be opened below the lower boundary 1.9606 with a possible movements towards the 1.9566 level.