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

According to the chart of M15, NZDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8036 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -66 pips.

The Double Bottom pattern has been formed on NZDCAD M5. Characteristics: the support level 0.8068; the resistance level 0.8074; 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.

The Double Top reversal pattern has been formed on NZDCAD H1. Characteristics: the upper boundary 0.8086; the lower boundary 0.8036; the width of the pattern is 48 points. Sell trades are better to be opened below the lower boundary 0.8036 with a possible movements towards the 0.7996 level.

On the chart of NZDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8084; the lower boundary 0.8036; the width of the pattern 48 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8006 level.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8051 - 0.0000 and support 0.8043 – 0.8043. In case the resistance level 0.8043 - 0.8043 is broken, the instrument is likely to follow the bearish trend.