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

On the chart of the NZDCHF H1 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.4620, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 15 points.

On the chart of NZDCHF M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.4638; the lower boundary 0.4623; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.4593 level.

The NZDCHF M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.4638, the Neckline and the upward angle are at 0.4632/0.4631. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDCHF will go towards 0.4616.

According to the chart of M5, NZDCHF formed the Head and Shoulders pattern. The Head’s top is set at 0.4637 while the median line of the Neck is found at 0.4630/0.4630. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of NZDCHF will go towards 0.4615.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart NZDCHF M5. Forecast: if the price breaks above the pattern high at 0.4615, then traders will be able to place a long deal with the target at 0.4630.