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

The GBPAUD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.9329, the Neckline and the upward angle are at 1.9290/1.9292. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of GBPAUD will go towards 1.9277.

On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0487; the lower boundary 1.0474; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0459 level.

According to the chart of M15, GBPUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3658, the lower border is 1.3640. The signal means that a long position should be opened above the upper border 1.3658 of the Bullish Rectangle.

On the chart of GOLD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 5045.59; the lower boundary 5021.27; the width of the pattern 2432 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 5021.04 level.

The Bearish pennant pattern has formed on the NZDUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.6017, a trader will be able to successfully enter the sell position.

The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3658; the lower boundary 1.3640; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 1.3640 with a possible movements towards the 1.3618 level.

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 207.74/208.45 whereas the upper border goes across 209.30/208.45. 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 GBPJPY will breach the upper border to head for 208.68.

On the chart of the GBPCHF 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 1.0467, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 16 points.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 308.14; the lower boundary 307.09; the width of the pattern is 100 points. Sell trades are better to be opened below the lower boundary 307.09 with a possible movements towards the 306.94 level.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.6045; the lower boundary 0.6037; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.6037 with a possible movements towards the 0.6022 level.