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

The Double Bottom pattern has been formed on NZDUSD H1. 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 0.5882 is broken. The further movements will rely on the width of the current pattern 25 points.

The Double Top reversal pattern has been formed on NZDUSD M15. Characteristics: the upper boundary 0.5881; the lower boundary 0.5873; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.5873 with a possible movements towards the 0.5850 level.

The Double Bottom pattern has been formed on NZDUSD M30; the upper boundary is 0.5940; the lower boundary is 0.5913. The width of the pattern is 27 points. In case of a break of the upper boundary 0.5940, 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.

According to the chart of M15, NZDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.5975 – 0.5975 and upper border 0.5989 – 0.5989. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Top pattern has formed on the chart of the NZDUSD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -7, and pattern’s width 12. Forecast If the price breaks through the support level 0.5975, it is likely to move further down to 0.5974.