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

The Bearish pennant pattern has formed on the GBPAUD M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 2.0468; the projection of the flagpole height is equal to 49 pips. In case the price breaks out the pattern’s bottom of 2.0468, the downtrend is expected to continue for further level 2.0445.

The Double Bottom pattern has been formed on NZDUSD M15; the upper boundary is 0.6010; the lower boundary is 0.6000. The width of the pattern is 11 points. In case of a break of the upper boundary 0.6010, 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, AUDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.5232 while the median line of the Neck is found at 0.5224/0.5229. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of AUDCHF will go towards 0.5247

According to the chart of M5, GBPCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.0724, the lower border is 1.0709. The signal means that a short position should be opened after fixing a price below the lower border 1.0709 of the Bearish Rectangle.

According to the chart of M5, AUDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.6559 – 0.6559 and upper border 0.6565 – 0.6565. In case the lower border is broken, the instrument is likely to follow the downward trend.