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

The Triple Bottom pattern has formed on the chart of NZDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.8242 with the upper limit 0.8242/0.8238, the projection of the width is 8 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.8234, the price is most likely to continue the upward movement.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8220; the lower boundary 0.8207; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8192 level.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8208; the lower boundary 0.8200; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.8200 with a possible movements towards the 0.8185 level.

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 0.8200 – 0.8200 and upper border 0.8209 – 0.8209. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on NZDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8201 is broken, the downward movement will continue.