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

The NZDUSD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.5728, the Neckline and the upward angle are at 0.5713/0.5715. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDUSD will go towards 0.5692.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5715; the resistance level 0.5725; the width of the pattern 10 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 10 points.

On the chart of the GBPJPY H1 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 206.41, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 77 points.

The Triple Top pattern has formed on the chart of the NZDCAD H1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8013/0.8021 with the upper limit 0.8037/0.8036; the projection of the width is 24 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8013, the price is most likely to continue the downward movement.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6542/0.6536 whereas the lower border goes across 0.6531/0.6536. The pattern width is measured on the chart at 11 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.6536 is broken, the price could continue its move toward 0.6551.