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

The Triple Bottom pattern has formed on the chart of the NZDCAD H1 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.8142/0.8121.

According to the chart of M15, NZDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8089 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on NZDCAD M15. 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 0.8115 is broken. The further movements will rely on the width of the current pattern 14 points.

The Bearish Flag pattern has been formed on NZDCAD at M15. The lower boundary of the pattern is located at 0.8107/0.8123 while the upper boundary lies at 0.8127/0.8143. The projection of the flagpole is 63 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.8107 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the NZDCAD M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.8107; the projection of the flagpole height is equal to 63 pips. In case the price breaks out the pattern’s bottom of 0.8107, the downtrend is expected to continue for further level 0.8084.

According to the chart of M5, NZDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.8198 – 0.8198 and upper border 0.8206 – 0.8206. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Bearish pennant pattern has formed on the NZDCAD M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.8194; the projection of the flagpole height is equal to 36 pips. In case the price breaks out the pattern’s bottom of 0.8194, the downtrend is expected to continue for further level 0.8164.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8222/0.8231 whereas the upper border goes across 0.8241/0.8231. 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 0.8246.

The Bullish pennant pattern is formed on the NZDCAD M30 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.8237, a further uptrend is possible.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8220; the lower boundary 0.8215; the width of the pattern 5 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8200 level.