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

According to the chart of M5, NZDCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.4918 - 0.0000 and support 0.4908 – 0.4908. In case the resistance level 0.4908 - 0.4908 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8511/0.8519 whereas the upper border goes across 0.8530/0.8519. 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 EURGBP will breach the upper border to head for 0.8534.

The Double Bottom pattern has been formed on #Bitcoin M5; the upper boundary is 93926.12; the lower boundary is 93560.62. The width of the pattern is 36607 points. In case of a break of the upper boundary 93926.12, 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 Double Top reversal pattern has been formed on EURCAD H1. Characteristics: the upper boundary 1.5693; the lower boundary 1.5599; the width of the pattern is 96 points. Sell trades are better to be opened below the lower boundary 1.5599 with a possible movements towards the 1.5559 level.

The Bullish pennant signal – Trading instrument #NTDOY M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 21.78, with the prospect of the next move being a projection of the flagpole height.