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

According to the chart of M15, EURCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.6121 - 0.0000 and support 1.6109 – 1.6109. In case the resistance level 1.6109 - 1.6109 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 93.28 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -20 pips.

The Double Bottom pattern has been formed on EURCAD M15. Characteristics: the support level 1.6109; the resistance level 1.6121; the width of the pattern 12 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 12 points.

According to the chart of M5, AUDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 112.33 - 0.00 and support 112.27 – 112.27. In case the resistance level 112.27 - 112.27 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on USDJPY D1. Characteristics: the upper boundary 162.85; the lower boundary 160.51; the width of the pattern is 221 points. Sell trades are better to be opened below the lower boundary 160.51 with a possible movements towards the 160.11 level.