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

On the chart of the NZDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5987, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Double Top pattern has been formed on NZDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5987 is broken, the downward movement will continue.

According to the chart of H1, NZDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6008/0.5976 whereas the lower border goes across 0.5942/0.5976. The pattern width is measured on the chart at 66 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.5976 is broken, the price could continue its move toward 0.6016.

The Double Bottom pattern has been formed on NZDUSD M5; the upper boundary is 0.5986; the lower boundary is 0.5981. The width of the pattern is 5 points. In case of a break of the upper boundary 0.5986, 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.

The Bearish Flag pattern has been formed on the chart NZDUSD M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.5987, traders should enter the market.