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

On the chart of NZDUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5838; the lower boundary 0.5827; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5797 level.

On the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5838; the lower boundary 0.5827; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5804 level.

The Bullish Flag pattern has been formed on NZDUSD at M5. The lower boundary of the pattern is located at 0.5787/0.5781, while the higher boundary lies at 0.5791/0.5785. The projection of the flagpole is 15 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.5791 is broken, the price will move further upwards.

The Bullish pennant pattern is formed on the NZDUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.5791, a further uptrend is possible.

On the chart of NZDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5785; the lower boundary 0.5779; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5764 level.