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

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.3436; the resistance level 1.3466; the width of the pattern 30 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 31 points.

According to the chart of M5, SILVER formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 78.97 and support 78.66. In case the resistance level 78.97 - 78.97 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on NZDCHF M5. Characteristics: the upper boundary 0.4617; the lower boundary 0.4605; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 0.4605 with a possible movements towards the 0.4590 level.

The Double Bottom pattern has been formed on GBPUSD H1; the upper boundary is 1.3473; the lower boundary is 1.3434. The width of the pattern is 40 points. In case of a break of the upper boundary 1.3473, 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 the chart of M5, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0431 - 0.0000 and support 1.0423 – 1.0423. In case the resistance level 1.0423 - 1.0423 is broken, the instrument is likely to follow the bearish trend.