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Bullish Symmetrical Triangle
According to the chart of M30, USDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 160.80 and 160.52 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 28 pips. Outlook: If the upper border 160.80 is broken, the price is likely to continue its move by 160.96.
Head and Shoulders
According to the chart of D1, NZDJPY formed the Head and Shoulders pattern. The Head’s top is set at 95.40 while the median line of the Neck is found at 92.46/92.59. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of NZDJPY will go towards 92.19.
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Bullish Rectangle
According to the chart of D1, AUDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9954, the lower border is 0.9742. The signal means that a long position should be opened above the upper border 0.9954 of the Bullish Rectangle.
Bullish Symmetrical Triangle
According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8132/0.8144 whereas the upper border goes across 0.8160/0.8144. 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 NZDCAD will breach the upper border to head for 0.8159.
Double Bottom
The Double Bottom pattern has been formed on GBPJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 215.03 is broken. The further movements will rely on the width of the current pattern 15 points.
