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

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.7956 is likely to encourage a continuation of the downward trend.

According to the chart of M15, NZDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.7967 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -18 pips.

According to the chart of M30, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.7994, the lower border is 0.7985. The signal means that a long position should be opened above the upper border 0.7994 of the Bullish Rectangle.

According to the chart of M5, NZDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.7976 – 0.7976 and upper border 0.7984 – 0.7984. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M15, NZDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.7969 while the median line of the Neck is found at 0.7957/0.7957. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.7934.