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

According to the chart of M5, NZDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.5128 while the median line of the Neck is found at 0.5120/0.5124. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCHF will go towards 0.5143

According to the chart of M5, AUDCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5674 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -12 pips.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 2749.22; the lower boundary 2745.84; the width of the pattern is 327 points. Sell trades are better to be opened below the lower boundary 2745.84 with a possible movements towards the 2745.69 level.

The Double Top pattern has been formed on GBPUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.2322 is broken, the downward movement will continue.

According to the chart of M30, SILVER formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 30.70 – 30.70 and upper border 30.80 – 30.80. In case the upper border is broken, the instrument is likely to follow the upward trend.