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

According to the chart of M5, NZDCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.4585 - 0.0000 and support 0.4582 – 0.4582. In case the resistance level 0.4582 - 0.4582 is broken, the instrument is likely to follow the bearish trend.

According to the chart of H1, NZDCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.4590 - 0.0000 and support 0.4573 – 0.4573. In case the resistance level 0.4573 - 0.4573 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M30, NZDCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.4573 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -18 pips.

The Triple Bottom pattern has formed on the chart of NZDCHF M5. Features of the pattern: The lower line of the pattern has coordinates 0.4597 with the upper limit 0.4597/0.4590, the projection of the width is 11 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.4586, the price is most likely to continue the upward movement.

According to the chart of M5, NZDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.4599 while the median line of the Neck is found at 0.4588/0.4595. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCHF will go towards 0.4614