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

The Double Bottom pattern has been formed on EURNZD M15; the upper boundary is 1.8867; the lower boundary is 1.8842. The width of the pattern is 25 points. In case of a break of the upper boundary 1.8867, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Double Bottom pattern has been formed on EURNZD M5. Characteristics: the support level 1.8842; the resistance level 1.8867; the width of the pattern 25 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 25 points.

According to H1, EURNZD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.8948/1.8962 is broken out, the instrument is likely to move toward 1.9002.

According to the chart of M5, EURNZD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.8948 and 1.8870 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 78 pips. Outlook: If the upper border 1.8948 is broken, the price is likely to continue its move by 1.8930.

According to the chart of M15, EURNZD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.8907/1.8932 and upper border is 1.8965/1.8932. The pattern width is measured on the chart at -58 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 1.8909.