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

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.

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 0.5987 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.

The Double Top reversal pattern has been formed on NZDUSD M30. Characteristics: the upper boundary 0.6008; the lower boundary 0.5992; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 0.5992 with a possible movements towards the 0.5962 level.