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

According to the chart of M5, NZDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 92.81 - 0.00 and support 92.65 – 92.65. In case the resistance level 92.65 - 92.65 is broken, the instrument is likely to follow the bearish trend.

The Triple Bottom pattern has been formed on NZDCAD M5. It has the following characteristics: resistance level 0.8032/0.8029; support level 0.8022/0.8019; the width is 10 points. In the event of a breakdown of the resistance level of 0.8032, the price is likely to continue an upward movement at least to 0.8037.

The Double Bottom pattern has been formed on SILVER 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 83.19 is broken. The further movements will rely on the width of the current pattern 820 points.

The Double Bottom pattern has been formed on NZDCAD M5. Characteristics: the support level 0.8022; the resistance level 0.8032; the width of the pattern 10 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 10 points.

On the chart of the SILVER M30 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 80.64, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 4270 points.