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

The Triple Top pattern has formed on the chart of the NZDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1, support level -2, and pattern’s width 8. Forecast If the price breaks through the support level 0.8293, it is likely to move further down to 0.8283.

The Double Bottom pattern has been formed on NZDCAD D1; the upper boundary is 0.8429; the lower boundary is 0.8278. The width of the pattern is 145 points. In case of a break of the upper boundary 0.8429, 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 M5, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8317, the lower border is 0.8309. The signal means that a long position should be opened above the upper border 0.8317 of the Bullish Rectangle.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8317; the lower boundary 0.8309; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8294 level.

According to the chart of M30, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8341 and 0.8310 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 31 pips. Outlook: If the upper border 0.8341 is broken, the price is likely to continue its move by 0.8353.

According to the chart of M15, NZDCAD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8341/0.8323 whereas the lower border goes across 0.8310/0.8323. The pattern width is measured on the chart at 31 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8323 is broken, the price could continue its move toward 0.8346.

The Double Bottom pattern has been formed on NZDCAD D1. Characteristics: the support level 0.8284; the resistance level 0.8429; the width of the pattern 145 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 151 points.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8311; the lower boundary 0.8285; the width of the pattern 26 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8263 level.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8298/0.8305 whereas the upper border goes across 0.8310/0.8305. 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 0.8320.

According to M5, NZDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8287/0.8287 is broken out, the instrument is likely to move toward 0.8302.