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

According to the chart of M15, NZDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5829 - 0.0000 and support 0.5815 – 0.5815. In case the resistance level 0.5815 - 0.5815 is broken, the instrument is likely to follow the bearish trend.

The Bearish pennant pattern has formed on the NZDUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5817 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.

According to the chart of M5, NZDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5843 and support 0.5836. In case the resistance level 0.5843 - 0.5843 is broken, the instrument is likely to follow the bullish trend.

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 0.5837 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on NZDUSD M30. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.5830 is broken. The further movements will rely on the width of the current pattern 10 points.