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

On the chart of the NZDCHF M5 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 0.4575, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 6 points.

According to M5, NZDCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.4561/0.4560 is broken out, the instrument is likely to move toward 0.4575.

According to the chart of M5, NZDCHF formed the Head and Shoulders pattern. The Head’s top is set at 0.4571 while the median line of the Neck is found at 0.4566/0.4566. 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 0.4551.

According to the chart of M5, NZDCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.4503/0.4526 whereas the upper border goes across 0.4543/0.4526. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDCHF will breach the upper border to head for 0.4541.

According to the chart of M15, NZDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.4499/0.4523 and upper border is 0.4556/0.4523. The pattern width is measured on the chart at -57 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 NZDCHF breaches the lower border, the price could continue its move toward 0.4500.