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

According to the chart of M5, USDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.7914/0.7921 and upper border is 0.7931/0.7921. The pattern width is measured on the chart at -17 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 USDCHF breaches the lower border, the price could continue its move toward 0.7906.

The Triple Bottom pattern has formed on the chart of USDCHF M5. Features of the pattern: The lower line of the pattern has coordinates 0.7939 with the upper limit 0.7939/0.7934, the projection of the width is 9 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.7930, the price is most likely to continue the upward movement.

According to the chart of H1, USDCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.7957 while the median line of the Neck is set at 0.8017/0.8006. 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 0.8046.