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

The Double Top reversal pattern has been formed on GBPCHF M15. Characteristics: the upper boundary 1.0639; the lower boundary 1.0629; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 1.0629 with a possible movements towards the 1.0606 level.

The Bearish pennant pattern has formed on the GBPUSD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.3662; the projection of the flagpole height is equal to 27 pips. In case the price breaks out the pattern’s bottom of 1.3662, the downtrend is expected to continue for further level 1.3647.

The Double Bottom pattern has been formed on AUDUSD M30. 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 0.6929 is broken. The further movements will rely on the width of the current pattern 22 points.

According to the chart of M5, AUDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 106.83 and support 106.66. In case the resistance level 106.83 - 106.83 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 211.42 and support 211.23. In case the resistance level 211.42 - 211.42 is broken, the instrument is likely to follow the bullish trend.