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

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8164 and 0.8132 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 32 pips. Outlook: If the upper border 0.8164 is broken, the price is likely to continue its move by 0.8166.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8164; the lower boundary 0.8156; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8134 level.

According to the chart of M15, NZDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8156 – 0.8156 and upper border 0.8165 – 0.8165. 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 Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8184 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -16 pips.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8234; the lower boundary 0.8226; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.8226 with a possible movements towards the 0.8211 level.