FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Double Bottom pattern has been formed on #Bitcoin 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 62343.35 is broken. The further movements will rely on the width of the current pattern 69548 points.

According to the chart of D1, NZDCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.8148 while the median line of the Neck is set at 0.8412/0.8371. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDCAD will go towards 0.8411.

On the chart of #Bitcoin M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 62457.35;the lower boundary 62134.32; the width of the pattern 32303 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 62134.09 level.

According to M5, EURCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.4907/1.4904 is broken out, the instrument is likely to move toward 1.4919.

According to the chart of M5, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 91.55 – 91.55 and upper border 91.72 – 91.72. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 2651.63;the lower boundary 2649.37; the width of the pattern is 217 points. Sell trades are better to be opened below the lower boundary 2649.37 with a possible movements towards the 2649.22 level.

The Triple Top pattern has formed on the chart of the GBPCHF M15. Features of the pattern: borders have an ascending angle;the lower line of the pattern has the coordinates 1.1249/1.1260 with the upper limit 1.1267/1.1269; the projection of the width is 18 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.1249, the price is most likely to continue the downward movement.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 62426.04;the lower boundary 62221.23; the width of the pattern 20481 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 62221.08 level.

The Triple Top pattern has formed on the chart of the USDJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -9, support level -44, and pattern’s width 48. Forecast If the price breaks through the support level 148.33, it is likely to move further down to 148.79.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 195.35;the lower boundary 195.20; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 195.05 level.