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

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8194/0.8203 and upper border is 0.8210/0.8203. The pattern width is measured on the chart at -16 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 NZDCAD breaches the lower border, the price could continue its move toward 0.8188.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8209; the lower boundary 0.8201; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8186 level.

According to the chart of M15, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8205, the lower border is 0.8196. The signal means that a long position should be opened above the upper border 0.8205 of the Bullish Rectangle.

According to the chart of M5, NZDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8196 – 0.8196 and upper border 0.8205 – 0.8205. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on NZDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8196 is broken, the downward movement will continue.