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

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.6633; the lower boundary 1.6614; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.6599 level.

The Double Top pattern has been formed on USDCHF M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9301 is broken, the downward movement will continue.

According to the chart of M5, EURJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 129.03 - 0.00 and support 128.95 – 128.95. In case the resistance level 128.95 - 128.95 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on NZDUSD 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 0.7156 is broken. The further movements will rely on the width of the current pattern 9 points.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.6633; the lower boundary 1.6620; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.6605 level.