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

The Triple Top pattern has formed on the chart of the USDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1, support level -10, and pattern’s width 22. Forecast If the price breaks through the support level 1.4290, it is likely to move further down to 1.4294.

The Double Top reversal pattern has been formed on #EBAY M5. Characteristics: the upper boundary 67.16; the lower boundary 66.88; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 66.88 with a possible movements towards the 66.73 level.

According to the chart of M5, NZDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8209 and support 0.8197. In case the resistance level 0.8209 - 0.8209 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M5, EURCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.9511 while the median line of the Neck is set at 0.9529/0.9527. 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 EURCHF will go towards 0.9542.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.5709 is likely to encourage a continuation of the downward trend.