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

According to M5, SILVER is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 77.30/77.05 is broken out, the instrument is likely to move toward 77.06.

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 158.75; the lower boundary 158.63; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 158.48 level.

According to the chart of M5, NZDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.5831 – 0.5831 and upper border 0.5846 – 0.5846. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on #PEP 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 150.03 is broken. The further movements will rely on the width of the current pattern 182 points.

The Triple Bottom pattern has formed on the chart of the NZDUSD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.5861/0.5844.