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

On the chart of NZDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8133; the lower boundary 0.8116; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8086 level.

The NZDCAD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.8133, the Neckline and the upward angle are at 0.8122/0.8123. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDCAD will go towards 0.8108.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8083; the lower boundary 0.8034; the width of the pattern 49 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8012 level.

The Double Bottom pattern has been formed on NZDCAD D1. 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 0.8087 is broken. The further movements will rely on the width of the current pattern 171 points.

The Double Bottom pattern has been formed on NZDCAD M5. Characteristics: the support level 0.8034; the resistance level 0.8058; the width of the pattern 24 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 24 points.