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

On the chart of EURUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0738; the lower boundary 1.0731; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0701 level.

The Triple Bottom pattern has been formed on EURUSD M5. It has the following characteristics: resistance level 1.0683/1.0682; support level 1.0675/1.0672; the width is 8 points. In the event of a breakdown of the resistance level of 1.0683, the price is likely to continue an upward movement at least to 1.0690.

According to the chart of M5, EURUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0683 - 0.0000 and support 1.0675 – 1.0675. In case the resistance level 1.0675 - 1.0675 is broken, the instrument is likely to follow the bearish trend.

According to the chart of H1, EURUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.0735, the lower border is 1.0688. The signal means that a short position should be opened after fixing a price below the lower border 1.0688 of the Bearish Rectangle.

The Double Bottom pattern has been formed on EURUSD 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 1.0729 is broken. The further movements will rely on the width of the current pattern 41 points.