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

The Triple Top pattern has formed on the chart of the EURJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 2, support level -11, and pattern’s width 21. Forecast If the price breaks through the support level 167.01, it is likely to move further down to 167.05.

The Double Bottom pattern has been formed on GOLD M15. 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 2310.47 is broken. The further movements will rely on the width of the current pattern 308 points.

The Bearish Flag pattern has been formed on the chart NZDUSD M5 which signals that the downward trend will continue. If the price breaks below the low at 0.5990, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (10 points).

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 0.5990 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 Bottom pattern has been formed on GOLD M5. 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 2308.75 is broken. The further movements will rely on the width of the current pattern 122 points.

The Double Top pattern has been formed on NZDCHF M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5436 is broken, the downward movement will continue.

The Double Top pattern has been formed on AUDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 102.20 is broken, the downward movement will continue.

The Double Top pattern has been formed on AUDJPY M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 102.20 is broken, the downward movement will continue.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8231/0.8237 whereas the upper border goes across 0.8241/0.8237. 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 NZDCAD will breach the upper border to head for 0.8252.

The Double Top reversal pattern has been formed on AUDJPY M5. Characteristics: the upper boundary 102.33; the lower boundary 102.20; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 102.20 with a possible movements towards the 102.05 level.