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

The Triple Bottom pattern has been formed on NZDCHF M5. It has the following characteristics: resistance level 0.4611/0.4610; support level 0.4606/0.4607; the width is 5 points. In the event of a breakdown of the resistance level of 0.4611, the price is likely to continue an upward movement at least to 0.4622.

The Double Bottom pattern has been formed on NZDCHF M5; the upper boundary is 0.4610; the lower boundary is 0.4607. The width of the pattern is 3 points. In case of a break of the upper boundary 0.4610, 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.

According to the chart of M5, NZDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.4606/0.4609 and upper border is 0.4612/0.4609. The pattern width is measured on the chart at -6 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDCHF breaches the lower border, the price could continue its move toward 0.4594.

The Bearish pennant pattern has formed on the NZDCHF M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.4606; the projection of the flagpole height is equal to 17 pips. In case the price breaks out the pattern’s bottom of 0.4606, the downtrend is expected to continue for further level 0.4576.

According to the chart of M5, NZDCHF formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.4614, the lower border is 0.4607. The signal means that a long position should be opened above the upper border 0.4614 of the Bullish Rectangle.