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

On the chart of the USDCHF M15 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 0.7951, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 9 points.

The Double Bottom pattern has been formed on USDCHF M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.7883 is broken. The further movements will rely on the width of the current pattern 12 points.

According to the chart of M5, USDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.7864/0.7877 and upper border is 0.7886/0.7877. The pattern width is measured on the chart at -22 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and USDCHF breaches the lower border, the price could continue its move toward 0.7862.

On the chart of USDCHF H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7883; the lower boundary 0.7843; the width of the pattern 40 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7803 level.

According to the chart of M30, USDCHF formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.7830 – 0.7830 and upper border 0.7846 – 0.7846. In case the lower border is broken, the instrument is likely to follow the downward trend.