FX.co ★ Patterns EURUSD | Euro (EUR) to US Dollar (USD) Rate in the Forex market

According to the chart of M5, EURUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.1555/1.1571 whereas the upper border goes across 1.1586/1.1571. 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 EURUSD will breach the upper border to head for 1.1586.

According to the chart of M5, EURUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.1524/1.1549 whereas the upper border goes across 1.1573/1.1549. 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 EURUSD will breach the upper border to head for 1.1564.

The Double Top reversal pattern has been formed on EURUSD M30. Characteristics: the upper boundary 1.1554; the lower boundary 1.1527; the width of the pattern is 26 points. Sell trades are better to be opened below the lower boundary 1.1527 with a possible movements towards the 1.1497 level.

The Double Bottom pattern has been formed on EURUSD M30. Characteristics: the support level 1.1509; the resistance level 1.1534; 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 23 points.

The Triple Bottom pattern has formed on the chart of the EURUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.1533/1.1526.

The Bearish Flag pattern has been formed on EURUSD at M15. The lower boundary of the pattern is located at 1.1517/1.1531 while the upper boundary lies at 1.1533/1.1547. The projection of the flagpole is 43 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.1517 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the EURUSD M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.1517; the projection of the flagpole height is equal to 43 pips. In case the price breaks out the pattern’s bottom of 1.1517, the downtrend is expected to continue for further level 1.1494.

The Bearish Flag pattern has been formed on EURUSD at M5. The lower boundary of the pattern is located at 1.1577/1.1583 while the upper boundary lies at 1.1583/1.1589. The projection of the flagpole is 21 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.1577 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the EURUSD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.1577; the projection of the flagpole height is equal to 21 pips. In case the price breaks out the pattern’s bottom of 1.1577, the downtrend is expected to continue for further level 1.1562.

According to the chart of M5, EURUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.1655 and 1.1633 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 22 pips. Outlook: If the upper border 1.1655 is broken, the price is likely to continue its move by 1.1658.