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

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8176 and 0.8120 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 56 pips. Outlook: If the upper border 0.8176 is broken, the price is likely to continue its move by 0.8166.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8173; the lower boundary 0.8164; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8149 level.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8135; the lower boundary 0.8124; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 0.8124 with a possible movements towards the 0.8109 level.

The Double Bottom pattern has been formed on NZDCAD H1. 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 0.8094 is broken. The further movements will rely on the width of the current pattern 15 points.

The Triple Top pattern has formed on the chart of the NZDCAD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -10, and pattern’s width 23. Forecast If the price breaks through the support level 0.8074, it is likely to move further down to 0.8074.