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

The Triple Top pattern has formed on the chart of the AUDUSD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 2, support level -25, and pattern’s width 37. Forecast If the price breaks through the support level 0.6465, it is likely to move further down to 0.6484.

The Triple Top pattern has formed on the chart of the NZDUSD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -6, support level -27, and pattern’s width 60. Forecast If the price breaks through the support level 0.5653, it is likely to move further down to 0.5691.

The Double Bottom pattern has been formed on AUDCHF M30; the upper boundary is 0.6373; the lower boundary is 0.6331. The width of the pattern is 42 points. In case of a break of the upper boundary 0.6373, 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.

On the chart of the NZDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5680, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 33 points.

According to the chart of M30, USDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 144.20/144.45 whereas the upper border goes across 144.79/144.45. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of USDJPY will breach the upper border to head for 144.75.