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

The Double Bottom pattern has been formed on NZDCAD M5; the upper boundary is 0.8198; the lower boundary is 0.8191. The width of the pattern is 8 points. In case of a break of the upper boundary 0.8198, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M15, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8199/0.8212 whereas the upper border goes across 0.8221/0.8212. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDCAD will breach the upper border to head for 0.8235.

The NZDCAD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.8218, the Neckline and the upward angle are at 0.8204/0.8206. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDCAD will go towards 0.8191.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8221 and 0.8188 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 33 pips. Outlook: If the upper border 0.8221 is broken, the price is likely to continue its move by 0.8221.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8189; the lower boundary 0.8169; the width of the pattern is 21 points. Sell trades are better to be opened below the lower boundary 0.8169 with a possible movements towards the 0.8154 level.