FX.co ★ Patterns EURUSD | Euro (EUR) to US Dollar (USD) Rate in the Forex market

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 Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0540 is broken, the downward movement will continue.

The Double Top pattern has been formed on EURUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0523 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the EURUSD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.0616.

According to the chart of M5, EURUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0524 is likely to encourage a continuation of the downward trend.

On the chart of EURUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0580; the lower boundary 1.0558; the width of the pattern 22 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0536 level.

The Double Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0558 is broken, the downward movement will continue.

According to the chart of M5, EURUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0521/1.0546 whereas the upper border goes across 1.0568/1.0546. 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 EURUSD will breach the upper border to head for 1.0561.

The Triple Bottom pattern has formed on the chart of the EURUSD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.0575/1.0567.

The Double Bottom pattern has been formed on EURUSD M15; the upper boundary is 1.0575; the lower boundary is 1.0557. The width of the pattern is 20 points. In case of a break of the upper boundary 1.0575, 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.