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

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8235; the lower boundary 0.8218; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8195 level.

The Double Top reversal pattern has been formed on NZDCAD M30. Characteristics: the upper boundary 0.8233; the lower boundary 0.8221; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 0.8221 with a possible movements towards the 0.8191 level.

According to the chart of M5, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8233, the lower border is 0.8224. The signal means that a long position should be opened above the upper border 0.8233 of the Bullish Rectangle.

According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8192 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -17 pips.

The Bearish pennant pattern has formed on the NZDCAD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.8189 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.