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

The Triple Top pattern has formed on the chart of the AUDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 112.96/112.98 with the upper limit 113.03/113.04; the projection of the width is 7 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 112.96, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.7108; the lower boundary is 0.7104. The width of the pattern is 4 points. In case of a break of the upper boundary 0.7108, 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.

According to M5, NZDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.5834/0.5833 is broken out, the instrument is likely to move toward 0.5848.

The GBPAUD M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.8904, the Neckline and the upward angle are at 1.8820/1.8833. 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 GBPAUD will go towards 1.8803.

The technical pattern called Head and Shoulders has appeared on the chart of EURNZD M15. There are weighty reasons to suggest that the price will surpass the Neckline 1.9866/1.9871 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.9849.