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

According to the chart of M5, NZDCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.4695 is likely to encourage a continuation of the downward trend.

According to the chart of M5, NZDCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.4703 - 0.0000 and support 0.4695 – 0.4695. In case the resistance level 0.4695 - 0.4695 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on NZDCAD M15. Characteristics: the upper boundary 0.8165; the lower boundary 0.8147; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 0.8147 with a possible movements towards the 0.8124 level.

On the chart of GBPUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3541; the lower boundary 1.3529; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3514 level.

The Double Top pattern has been formed on NZDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8147 is broken, the downward movement will continue.