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

According to the chart of M30, USDCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.9119 – 0.9119 and upper border 0.9152 – 0.9152. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M5, USDCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.9121 while the median line of the Neck is set at 0.9134/0.9132. 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 USDCHF will go towards 0.9147.

The Bearish Flag pattern has been formed on USDCHF at M5. The lower boundary of the pattern is located at 0.9122/0.9128 while the upper boundary lies at 0.9126/0.9132. The projection of the flagpole is 12 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.9122 is broken, the price will move further downwards.