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

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.0629/1.0651 and upper border is 1.0668/1.0651. The pattern width is measured on the chart at -39 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 GBPCHF breaches the lower border, the price could continue its move toward 1.0636.

The Double Bottom pattern has been formed on NZDUSD 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 0.5813 is broken. The further movements will rely on the width of the current pattern 11 points.

According to the chart of M15, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5798 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -20 pips.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5799; the resistance level 0.5803; the width of the pattern 4 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 4 points.

According to the chart of M5, NZDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.5783 while the median line of the Neck is set at 0.5792/0.5792. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDUSD will go towards 0.5807.