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

According to the chart of M15, EURUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.0507 while the median line of the Neck is set at 1.0567/1.0554. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of EURUSD will go towards 1.0576.

The Double Top pattern has been formed on EURUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0540 is broken, the downward movement will continue.

The Double Top pattern has been formed on EURUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0523 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the EURUSD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.0616.

According to the chart of M5, EURUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0524 is likely to encourage a continuation of the downward trend.