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

The Double Top pattern has been formed on AUDCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5360 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDCAD M5. Characteristics: the upper boundary 0.9487; the lower boundary 0.9480; the width of the pattern is 6 points. Sell trades are better to be opened below the lower boundary 0.9480 with a possible movements towards the 0.9465 level.

According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 1.9740 while the median line of the Neck is found at 1.9635/1.9651. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 1.9636.

The Bullish Flag pattern has been formed on the chart NZDCAD M5 which signals that the upward trend will continue. Signals: а break of the peak at 0.8212 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant graphic pattern has formed on the NZDCAD M5 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 0.8227.

The Double Bottom pattern has been formed on AUDCHF M15. Characteristics: the support level 0.5360; the resistance level 0.5385; the width of the pattern 25 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 25 points.

The Double Bottom pattern has been formed on NZDCHF M5. Characteristics: the support level 0.4638; the resistance level 0.4655; the width of the pattern 17 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 17 points.

The Bearish pennant pattern has formed on the NZDUSD M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.6002 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 GBPUSD 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 1.3717 is broken. The further movements will rely on the width of the current pattern 37 points.

According to the chart of H1, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8148/0.8197 whereas the upper border goes across 0.8233/0.8197. 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 0.8237.