FX.co ★ Patterns EURNZD | Euro (EUR) to New Zealand Dollar (NZD) Rate in the Forex market

The Triple Bottom pattern has formed on the chart of the EURNZD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.9722/1.9715.

According to the chart of M5, EURNZD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.9746 – 1.9746 and upper border 1.9790 – 1.9790. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Bottom pattern has been formed on EURNZD M5. Characteristics: the support level 1.9685; the resistance level 1.9710; 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 Triple Top pattern has formed on the chart of the EURNZD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -4, support level -8, and pattern’s width 14. Forecast If the price breaks through the support level 1.9692, it is likely to move further down to 1.9695.

The Double Bottom pattern has been formed on EURNZD 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 1.9679 is broken. The further movements will rely on the width of the current pattern 13 points.

The Triple Top pattern has formed on the chart of the EURNZD H1 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 3, support level -50, and pattern’s width 111. Forecast If the price breaks through the support level 1.9610, it is likely to move further down to 1.9675.

The Double Top reversal pattern has been formed on EURNZD H1. Characteristics: the upper boundary 1.9714; the lower boundary 1.9660; the width of the pattern is 58 points. Sell trades are better to be opened below the lower boundary 1.9660 with a possible movements towards the 1.9620 level.

On the chart of EURNZD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9714; the lower boundary 1.9687; the width of the pattern 27 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9647 level.

The Double Bottom pattern has been formed on EURNZD D1. Characteristics: the support level 1.9441; the resistance level 2.0232; the width of the pattern 791 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 799 points.

On the chart of EURNZD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9714; the lower boundary 1.9687; the width of the pattern 27 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9647 level.