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

The Double Bottom pattern has been formed on NZDCAD M15; the upper boundary is 0.8053; the lower boundary is 0.8028. The width of the pattern is 25 points. In case of a break of the upper boundary 0.8053, 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.

The Double Bottom pattern has been formed on GBPAUD 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 2.0845 is broken. The further movements will rely on the width of the current pattern 74 points.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6433/0.6459 whereas the upper border goes across 0.6480/0.6459. 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 AUDUSD will breach the upper border to head for 0.6474.

According to the chart of M5, GBPAUD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 2.0804, the lower border is 2.0770. The signal means that a long position should be opened above the upper border 2.0804 of the Bullish Rectangle.

The Triple Bottom pattern has been formed on GBPJPY M15. It has the following characteristics: resistance level 202.14/202.11; support level 201.69/201.58; the width is 45 points. In the event of a breakdown of the resistance level of 202.14, the price is likely to continue an upward movement at least to 201.90.