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

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8182; the lower boundary 0.8161; the width of the pattern 21 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8138 level.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8181; the lower boundary 0.8177; the width of the pattern 4 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8162 level.

According to the chart of M15, NZDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.8191 while the median line of the Neck is found at 0.8166/0.8170. 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 0.8148.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8142, the lower border is 0.8133. The signal means that a short position should be opened after fixing a price below the lower border 0.8133 of the Bearish Rectangle.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8167/0.8171 whereas the upper border goes across 0.8174/0.8171. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDCAD will breach the upper border to head for 0.8186.