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

According to the chart of M5, NZDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 93.74 and support 93.56. In case the resistance level 93.74 - 93.74 is broken, the instrument is likely to follow the bullish trend.

The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9785 is broken, the downward movement will continue.

The SILVER M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 78.07, the Neckline and the upward angle are at 77.53/77.61. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of SILVER will go towards 77.59.

The Double Bottom pattern has been formed on USDCHF M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.7808 is broken. The further movements will rely on the width of the current pattern 8 points.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 93.74; the lower boundary 93.56; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 93.41 level.