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

According to the chart of M5, #MA formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 553.82/552.53 whereas the lower border goes across 550.86/552.53. The pattern width is measured on the chart at 296 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 552.53 is broken, the price could continue its move toward 552.68.

The Double Top reversal pattern has been formed on #MA M5. Characteristics: the upper boundary 553.66; the lower boundary 551.72; the width of the pattern is 210 points. Sell trades are better to be opened below the lower boundary 551.72 with a possible movements towards the 551.57 level.

On the chart of #MA M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 537.62; the lower boundary 523.64; the width of the pattern 1398 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 523.41 level.

The Double Bottom pattern has been formed on #MA M5. Characteristics: the support level 541.02; the resistance level 543.86; the width of the pattern 284 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 272 points.

The Double Bottom pattern has been formed on #MA M5; the upper boundary is 545.47; the lower boundary is 542.12. The width of the pattern is 346 points. In case of a break of the upper boundary 545.47, 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.