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

According to the chart of M5, EURUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.0502 – 1.0502 and upper border 1.0512 – 1.0512. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Top reversal pattern has been formed on EURUSD M15. Characteristics: the upper boundary 1.0527; the lower boundary 1.0506; the width of the pattern is 23 points. Sell trades are better to be opened below the lower boundary 1.0506 with a possible movements towards the 1.0483 level.

On the chart of EURUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0529; the lower boundary 1.0516; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0494 level.

The Double Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0516 is broken, the downward movement will continue.

According to the chart of M15, EURUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0460 is likely to encourage a continuation of the downward trend.