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

The Double Top reversal pattern has been formed on EURGBP M5. Characteristics: the upper boundary 0.8660; the lower boundary 0.8646; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 0.8646 with a possible movements towards the 0.8631 level.

On the chart of the USDJPY 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 136.36, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 18 points.

The Double Bottom pattern has been formed on NZDCHF 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 0.5922 is broken. The further movements will rely on the width of the current pattern 9 points.

According to the chart of M5, NZDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.5913/0.5918 and upper border is 0.5923/0.5918. The pattern width is measured on the chart at -10 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 NZDCHF breaches the lower border, the price could continue its move toward 0.

On the chart of EURUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0528; the lower boundary 1.0504; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0489 level.