FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market

According to M5, NZDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8210/0.8209 is broken out, the instrument is likely to move toward 0.8224.

The Double Bottom pattern has been formed on NZDCAD M15. Characteristics: the support level 0.8219; the resistance level 0.8229; the width of the pattern 10 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.

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8237 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -22 pips.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8233/0.8249 whereas the upper border goes across 0.8264/0.8249. 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 NZDCAD will breach the upper border to head for 0.8264.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8259; the lower boundary 0.8242; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8220 level.

According to the chart of M5, NZDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8254 and support 0.8243. In case the resistance level 0.8254 - 0.8254 is broken, the instrument is likely to follow the bullish trend.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8246; the lower boundary 0.8237; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8214 level.

The Double Bottom pattern has been formed on NZDCAD 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 0.8215 is broken. The further movements will rely on the width of the current pattern 13 points.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8271; the lower boundary 0.8263; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8248 level.

The Bullish Flag pattern has been formed on the chart NZDCAD M5 which signals that the upward trend will continue. Signals: а break of the peak at 0.8271 may push the price higher, and the rise will be the projection of the pole.