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

According to the chart of M30, NZDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6043/0.6012 whereas the lower border goes across 0.5981/0.6012. The pattern width is measured on the chart at 62 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.6012 is broken, the price could continue its move toward 0.6042.

According to the chart of H1, NZDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.6043 and 0.5981 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 62 pips. Outlook: If the upper border 0.6043 is broken, the price is likely to continue its move by 0.6051.

The Bearish pennant pattern has formed on the NZDUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.6001, a trader will be able to successfully enter the sell position.

According to the chart of M5, NZDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.5974 while the median line of the Neck is found at 0.5960/0.5960. 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 NZDUSD will go towards 0.5945.

The Double Top reversal pattern has been formed on NZDUSD M30. Characteristics: the upper boundary 0.5973; the lower boundary 0.5959; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 0.5959 with a possible movements towards the 0.5929 level.