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

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 212.74; the lower boundary 212.11; the width of the pattern 63 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.81 level.

On the chart of EURUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1708; the lower boundary 1.1684; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.1669 level.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5844; the lower boundary 0.5825; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 0.5825 with a possible movements towards the 0.5810 level.

The Double Bottom pattern has been formed on EURGBP M15; the upper boundary is 0.8708; the lower boundary is 0.8700. The width of the pattern is 7 points. In case of a break of the upper boundary 0.8708, 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, GBPCHF formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.0583 – 1.0583 and upper border 1.0597 – 1.0597. In case the lower border is broken, the instrument is likely to follow the downward trend.