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

According to the chart of M5, USDCHF formed the Head and Shoulders pattern. The Head’s top is set at 0.7915 while the median line of the Neck is found at 0.7897/0.7895. 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 USDCHF will go towards 0.7880.

The Double Top reversal pattern has been formed on USDCHF M5. Characteristics: the upper boundary 0.7896; the lower boundary 0.7886; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 0.7886 with a possible movements towards the 0.7871 level.

According to the chart of M5, USDCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.7882 is likely to encourage a continuation of the downward trend.

According to the chart of H1, USDCHF formed the Head and Shoulders pattern. The Head’s top is set at 0.7875 while the median line of the Neck is found at 0.7831/0.7841. 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 USDCHF will go towards 0.7801.

The Double Bottom pattern has been formed on USDCHF M5. Characteristics: the support level 0.7845; the resistance level 0.7851; the width of the pattern 6 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 6 points.