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

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8066; the lower boundary 0.8049; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8026 level.

According to the chart of M30, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 2.0243 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -80 pips.

According to the chart of M15, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 2.0243/2.0283 and upper border is 2.0323/2.0283. The pattern width is measured on the chart at -80 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPAUD breaches the lower border, the price could continue its move toward 2.0261.

The Double Top reversal pattern has been formed on #PEP M5. Characteristics: the upper boundary 144.01; the lower boundary 143.41; the width of the pattern is 57 points. Sell trades are better to be opened below the lower boundary 143.41 with a possible movements towards the 143.26 level.

The Bearish pennant pattern has formed on the GBPJPY M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 203.17; the projection of the flagpole height is equal to 120 pips. In case the price breaks out the pattern’s bottom of 203.17, the downtrend is expected to continue for further level 202.87.