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

The Double Bottom pattern has been formed on NZDUSD M15. 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 0.5968 is broken. The further movements will rely on the width of the current pattern 7 points.

The Triple Bottom pattern has been formed on NZDUSD M5. It has the following characteristics: resistance level 0.5977/0.5975; support level 0.5963/0.5966; the width is 14 points. In the event of a breakdown of the resistance level of 0.5977, the price is likely to continue an upward movement at least to 0.5980.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.5963 is likely to encourage a continuation of the downward trend.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.6019 and 0.6012 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 7 pips. Outlook: If the upper border 0.6019 is broken, the price is likely to continue its move by 0.6030.

The Double Bottom pattern has been formed on NZDUSD M15; the upper boundary is 0.6010; the lower boundary is 0.6000. The width of the pattern is 11 points. In case of a break of the upper boundary 0.6010, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.