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

According to the chart of M5, EURUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0447 and support 1.0422. In case the resistance level 1.0447 - 1.0447 is broken, the instrument is likely to follow the bullish trend.

The Double Bottom pattern has been formed on EURUSD M5. Characteristics: the support level 1.0422; the resistance level 1.0447; the width of the pattern 25 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 25 points.

The Triple Top pattern has formed on the chart of the EURCHF M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1, support level -7, and pattern’s width 13. Forecast If the price breaks through the support level 0.9303, it is likely to move further down to 0.9291.

The technical pattern called Head and Shoulders has appeared on the chart of #Bitcoin M5. There are weighty reasons to suggest that the price will surpass the Neckline 98447.89/98410.42 after the right shoulder has been formed. So, the trend is set to change with the price heading for 98410.27.

According to the chart of M5, #Bitcoin formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 97098.59/97351.69 whereas the upper border goes across 97646.52/97351.69. 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 #Bitcoin will breach the upper border to head for 97351.84.

On the chart of #Bitcoin M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 97778.11; the lower boundary 95400.30; the width of the pattern 237781 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 95400.00 level.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 97778.11; the lower boundary 97417.04; the width of the pattern 36107 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 97416.89 level.

According to H1, #Bitcoin is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 98239.22/97700.73 is broken out, the instrument is likely to move toward 97701.13.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 97765.74; the lower boundary 95400.30; the width of the pattern 236544 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 95400.15 level.

The Triple Top pattern has formed on the chart of the EURNZD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.8420/1.8428 with the upper limit 1.8439/1.8436; the projection of the width is 19 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 1.8420, the price is most likely to continue the downward movement.