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

The Double Bottom pattern has been formed on EURNZD M5; the upper boundary is 1.7715; the lower boundary is 1.7708. The width of the pattern is 7 points. In case of a break of the upper boundary 1.7715, 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.

The Bearish Flag pattern has been formed on EURNZD at M30. The lower boundary of the pattern is located at 1.7704/1.7714 while the upper boundary lies at 1.7714/1.7724. The projection of the flagpole is 28 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.7704 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the EURNZD M30 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.7704, a trader will be able to successfully enter the sell position.

According to the chart of M5, #Bitcoin formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 65824.90 is likely to encourage a continuation of the downward trend.

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.2709; the lower boundary 1.2700; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.2678 level.