FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Double Top
On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.7924; the lower boundary 1.7893; the width of the pattern 31 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.7878 level.
Triple Top
The Triple Top pattern has formed on the chart of the EURNZD D1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.7839/1.7917 with the upper limit 1.8093/1.8150; the projection of the width is 254 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.7839, the price is most likely to continue the downward movement.
Bearish Symmetrical Triangle
According to the chart of H1, EURNZD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.7848 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -119 pips.
Bearish Symmetrical Triangle
According to the chart of M30, EURNZD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.7848/1.7898 and upper border is 1.7966/1.7898. The pattern width is measured on the chart at -118 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 EURNZD breaches the lower border, the price could continue its move toward 1.7868.
Triple Top
The Triple Top pattern has formed on the chart of the EURNZD D1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.7839/1.7917 with the upper limit 1.8093/1.8150; the projection of the width is 254 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.7839, the price is most likely to continue the downward movement.
