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

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 0.7976 – 0.7976 and upper border 0.7984 – 0.7984. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M15, NZDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.7969 while the median line of the Neck is found at 0.7957/0.7957. 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 NZDCAD will go towards 0.7934.

The Triple Bottom pattern has formed on the chart of the NZDCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.7929/0.7928.

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 0.7929 - 0.0000 and support 0.7921 – 0.7921. In case the resistance level 0.7921 - 0.7921 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on NZDCAD M5; the upper boundary is 0.7940; the lower boundary is 0.7936. The width of the pattern is 4 points. In case of a break of the upper boundary 0.7940, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.