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

The technical pattern called Head and Shoulders has appeared on the chart of GBPJPY M15. There are weighty reasons to suggest that the price will surpass the Neckline 151.89/151.96 after the right shoulder has been formed. So, the trend is set to change with the price heading for 151.74.

According to the chart of M5, EURJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 129.63 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -65 pips.

According to the chart of M5, EURUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.1672/1.1680 and upper border is 1.1691/1.1680. The pattern width is measured on the chart at -19 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 EURUSD breaches the lower border, the price could continue its move toward 1.

The Bearish pennant pattern has formed on the GBPUSD M15 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 1.3662, a trader will be able to successfully enter the sell position.

The Bearish pennant pattern has formed on the AUDUSD M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.7263 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.