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

According to the chart of M5, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8051 - 0.0000 and support 0.8043 – 0.8043. In case the resistance level 0.8043 - 0.8043 is broken, the instrument is likely to follow the bearish trend.

The Triple Bottom pattern has formed on the chart of the NZDCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.8050/0.8048.

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 0.8056 is broken, the downward movement will continue.

According to the chart of M15, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8049, the lower border is 0.8038. The signal means that a long position should be opened above the upper border 0.8049 of the Bullish Rectangle.

The Double Bottom pattern has been formed on NZDCAD 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 0.8034 is broken. The further movements will rely on the width of the current pattern 4 points.