FX.co ★ Patterns EURNZD | Euro (EUR) to New Zealand Dollar (NZD) Rate in the Forex market

According to the chart of M30, EURNZD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.7935, the lower border is 1.7898. The signal means that a long position should be opened above the upper border 1.7935 of the Bullish Rectangle.

According to the chart of M15, EURNZD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.7898 – 1.7898 and upper border 1.7935 – 1.7935. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on EURNZD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.7839 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on EURNZD 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 1.7869 is broken. The further movements will rely on the width of the current pattern 30 points.

According to the chart of M30, EURNZD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.7845 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -34 pips.

According to the chart of M15, EURNZD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.7845/1.7860 and upper border is 1.7878/1.7860. The pattern width is measured on the chart at -33 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 EURNZD breaches the lower border, the price could continue its move toward 1.7838.

According to the chart of M5, EURNZD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.7919 while the median line of the Neck is set at 1.7940/1.7940. 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 EURNZD will go towards 1.7955.

The Triple Bottom pattern has formed on the chart of the EURNZD M30 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.7939/1.7933.

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 1.7949/1.7961 with the upper limit 1.7969/1.7973; the projection of the width is 20 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 1.7949, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on EURNZD M5; the upper boundary is 1.7953; the lower boundary is 1.7936. The width of the pattern is 17 points. In case of a break of the upper boundary 1.7953, 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.