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

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 88.18; the lower boundary 88.09; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 87.94 level.

According to the chart of M30, NZDCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.5104/0.5132 whereas the upper border goes across 0.5152/0.5132. 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 NZDCHF will breach the upper border to head for 0.5162.

According to the chart of M5, NZDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.5128 while the median line of the Neck is found at 0.5120/0.5124. 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 NZDCHF will go towards 0.5143

According to the chart of M5, AUDCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5674 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -12 pips.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 2749.22; the lower boundary 2745.84; the width of the pattern is 327 points. Sell trades are better to be opened below the lower boundary 2745.84 with a possible movements towards the 2745.69 level.