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

The technical pattern called Head and Shoulders has appeared on the chart of GBPJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 214.47/214.51 after the right shoulder has been formed. So, the trend is set to change with the price heading for 214.36.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.6092/1.6106 and upper border is 1.6121/1.6106. The pattern width is measured on the chart at -29 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and EURCAD breaches the lower border, the price could continue its move toward 1.6091.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 113.48/113.60 and upper border is 113.70/113.60. The pattern width is measured on the chart at -22 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and AUDJPY breaches the lower border, the price could continue its move toward 113.45.

The Triple Top pattern has formed on the chart of the EURNZD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 2.0019/2.0020 with the upper limit 2.0036/2.0039; the projection of the width is 17 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 2.0019, the price is most likely to continue the downward movement.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 2.0039; the lower boundary 2.0020; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 2.0005 level.