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

The Bullish pennant graphic pattern has formed on the NZDCAD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.8314.

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8234/0.8251 and upper border is 0.8265/0.8251. The pattern width is measured on the chart at -31 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 NZDCAD breaches the lower border, the price could continue its move toward 0.8236.

The Double Top pattern has been formed on NZDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8234 is broken, the downward movement will continue.

The technical pattern called Head and Shoulders has appeared on the chart of NZDCAD H1. There are weighty reasons to suggest that the price will surpass the Neckline 0.8239/0.8244 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.8204.

The Double Top pattern has been formed on NZDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8239 is broken, the downward movement will continue.