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

On the chart of the EURNZD M15 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 1.9107, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 76 points.

The Double Top reversal pattern has been formed on EURNZD M15. Characteristics: the upper boundary 1.9183; the lower boundary 1.9107; the width of the pattern is 78 points. Sell trades are better to be opened below the lower boundary 1.9107 with a possible movements towards the 1.9085 level.

The Double Bottom pattern has been formed on EURNZD M5. Characteristics: the support level 1.8992; the resistance level 1.9020; the width of the pattern 28 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 26 points.

According to the chart of M15, EURNZD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.9161/1.9208 whereas the upper border goes across 1.9252/1.9208. 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 EURNZD will breach the upper border to head for 1.9231.

According to the chart of M30, EURNZD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.9252 and 1.9161 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 91 pips. Outlook: If the upper border 1.9252 is broken, the price is likely to continue its move by 1.9237.