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

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9369/1.9390 and upper border is 1.9406/1.9390. The pattern width is measured on the chart at -37 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 GBPAUD breaches the lower border, the price could continue its move toward 1.9375.

According to M30, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8339/0.8338 is broken out, the instrument is likely to move toward 0.8368.

On the chart of #Bitcoin M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 97729.11; the lower boundary 97359.35; the width of the pattern 36976 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 97359.20 level.

The Double Top pattern has been formed on #Bitcoin M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 97359.35 is broken, the downward movement will continue.

According to the chart of M30, EURGBP produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.8312 while the median line of the Neck is set at 0.8339/0.8338. 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 EURGBP will go towards 0.8368.

According to the chart of M15, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6524, the lower border is 0.6510. The signal means that a long position should be opened above the upper border 0.6524 of the Bullish Rectangle.

The Double Bottom pattern has been formed on GBPAUD M15. Characteristics: the support level 1.9399; the resistance level 1.9422; the width of the pattern 23 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 22 points.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.9108 and 0.9088 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 20 pips. Outlook: If the upper border 0.9108 is broken, the price is likely to continue its move by 0.9111.

According to the chart of M15, EURUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.0507 while the median line of the Neck is set at 1.0567/1.0554. 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 EURUSD will go towards 1.0576.

The Double Bottom pattern has been formed on NZDCHF M5; the upper boundary is 0.5186; the lower boundary is 0.5183. The width of the pattern is 3 points. In case of a break of the upper boundary 0.5186, 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.