FX.co ★ Modèles réels. Analyse technique et recommandations de trading

According to the chart of M5, NZDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.5676 – 0.5676 and upper border 0.5693 – 0.5693. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Triple Bottom pattern has been formed on NZDUSD M5. It has the following characteristics: resistance level 0.5693/0.5685; support level 0.5676/0.5676; the width is 17 points. In the event of a breakdown of the resistance level of 0.5693, the price is likely to continue an upward movement at least to 0.5693.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5739; the lower boundary 0.5722; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 0.5722 with a possible movements towards the 0.5707 level.

The Bearish pennant pattern has formed on the NZDUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5728 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Top reversal pattern has been formed on NZDUSD M30. Characteristics: the upper boundary 0.5744; the lower boundary 0.5731; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 0.5731 with a possible movements towards the 0.5701 level.