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

The Bullish pennant pattern is formed on the EURNZD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.9757, a further uptrend is possible.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 157.55/157.68 whereas the upper border goes across 157.79/157.68. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of USDJPY will breach the upper border to head for 157.83.

The Triple Bottom pattern has formed on the chart of the GBPCHF M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.0577/1.0568.

The Double Top pattern has been formed on AUDCAD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9870 is broken, the downward movement will continue.

On the chart of the NZDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5938, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 13 points.