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

According to the chart of M5, GOLD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 4940.02 and support 4895.49. In case the resistance level 4940.02 - 4940.02 is broken, the instrument is likely to follow the bullish trend.

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.9503; the resistance level 1.9518; the width of the pattern 15 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 16 points.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 4933.70; the lower boundary 4898.75; the width of the pattern is 3195 points. Sell trades are better to be opened below the lower boundary 4898.75 with a possible movements towards the 4898.60 level.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5972 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -17 pips.

The Double Bottom pattern has been formed on SILVER M15; the upper boundary is 77.88; the lower boundary is 73.92. The width of the pattern is 4315 points. In case of a break of the upper boundary 77.88, 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.