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

According to the chart of M5, #PEP formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 141.91 - 0.00 and support 141.47 – 141.47. In case the resistance level 141.47 - 141.47 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on #PEP M5. Characteristics: the support level 141.47; the resistance level 141.89; the width of the pattern 42 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 41 points.

The Bearish pennant pattern has formed on the #PEP M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 141.49; the projection of the flagpole height is equal to 231 pips. In case the price breaks out the pattern’s bottom of 141.49, the downtrend is expected to continue for further level 141.26.

The Bearish pennant pattern has formed on the #PEP M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 141.47; the projection of the flagpole height is equal to 233 pips. In case the price breaks out the pattern’s bottom of 141.47, the downtrend is expected to continue for further level 141.17.

According to the chart of M5, #PEP produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 143.96 while the median line of the Neck is set at 144.53/144.50. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #PEP will go towards 144.65.