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

On the chart of the NZDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5828, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 9 points.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 4489.63; the lower boundary 4476.46; the width of the pattern 1317 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 4476.31 level.

The Double Top pattern has been formed on EURCHF H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9149 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8035; the lower boundary 0.8030; the width of the pattern is 5 points. Sell trades are better to be opened below the lower boundary 0.8030 with a possible movements towards the 0.8015 level.

According to the chart of M30, NZDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.5810 while the median line of the Neck is set at 0.5835/0.5833. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDUSD will go towards 0.5863.