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

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart AUDJPY M5. Forecast: if the price breaks above the pattern high at 103.57, then traders will be able to place a long deal with the target at 103.72.

The Double Bottom pattern has been formed on NZDCAD M30. Characteristics: the support level 0.8112; the resistance level 0.8128; the width of the pattern 16 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 15 points.

The Double Bottom pattern has been formed on EURCAD M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 1.4912 is broken. The further movements will rely on the width of the current pattern 298 points.

The Double Bottom pattern has been formed on USDCAD M5; the upper boundary is 1.3669; the lower boundary is 1.3652. The width of the pattern is 17 points. In case of a break of the upper boundary 1.3669, 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.

On the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5945; the lower boundary 0.4725; the width of the pattern 1220 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.4703 level.