FX.co ★ Patterns NZDUSD | New Zealand Dollar (NZD) to US Dollar (USD) Rate in the Forex market

The Triple Bottom pattern has formed on the chart of the NZDUSD H1 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.5657/0.5628.

The Triple Bottom pattern has been formed on NZDUSD H1. It has the following characteristics: resistance level 0.5657/0.5628; support level 0.5603/0.5615; the width is 54 points. In the event of a breakdown of the resistance level of 0.5657, the price is likely to continue an upward movement at least to 0.5648.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5627; the lower boundary 0.5608; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 0.5608 with a possible movements towards the 0.5593 level.

The Double Bottom pattern has been formed on NZDUSD 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 0.5633 is broken. The further movements will rely on the width of the current pattern 5 points.

The Double Top reversal pattern has been formed on NZDUSD M15. Characteristics: the upper boundary 0.5657; the lower boundary 0.5645; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 0.5645 with a possible movements towards the 0.5623 level.

According to the chart of M5, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5657, the lower border is 0.5650. The signal means that a long position should be opened above the upper border 0.5657 of the Bullish Rectangle.

The Double Bottom pattern has been formed on NZDUSD M15; the upper boundary is 0.5759; the lower boundary is 0.5745. The width of the pattern is 13 points. In case of a break of the upper boundary 0.5759, 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.

According to the chart of M15, NZDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5764 - 0.0000 and support 0.5749 – 0.5749. In case the resistance level 0.5749 - 0.5749 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5770; the resistance level 0.5778; the width of the pattern 8 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 8 points.

According to the chart of H1, NZDUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.5749/0.5767 and upper border is 0.5787/0.5767. The pattern width is measured on the chart at -38 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDUSD breaches the lower border, the price could continue its move toward 0.5727.