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

The Double Bottom pattern has been formed on NZDCAD M5. 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 0.8178 is broken. The further movements will rely on the width of the current pattern 3 points.

On the chart of the NZDCAD 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 0.8170, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 16 points.

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8194/0.8203 and upper border is 0.8210/0.8203. The pattern width is measured on the chart at -16 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 NZDCAD breaches the lower border, the price could continue its move toward 0.8188.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8209; the lower boundary 0.8201; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8186 level.

According to the chart of M15, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8205, the lower border is 0.8196. The signal means that a long position should be opened above the upper border 0.8205 of the Bullish Rectangle.