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

According to the chart of M5, #Bitcoin produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 80724.81 while the median line of the Neck is set at 81150.90/81173.09. 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 #Bitcoin will go towards 81173.24.

The technical pattern called Head and Shoulders has appeared on the chart of EURUSD M15. There are weighty reasons to suggest that the price will surpass the Neckline 1.1724/1.1742 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.1719.

According to the chart of M30, USDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3641, the lower border is 1.3625. The signal means that a long position should be opened above the upper border 1.3641 of the Bullish Rectangle.

The Double Top pattern has been formed on NZDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8119 is broken, the downward movement will continue.

On the chart of the EURCAD M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.5991, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 41 points.