FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market

The Double Top pattern has been formed on NZDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8073 is broken, the downward movement will continue.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8033; the lower boundary 0.8018; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7995 level.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8032; the lower boundary 0.8028; the width of the pattern is 4 points. Sell trades are better to be opened below the lower boundary 0.8028 with a possible movements towards the 0.8013 level.

On the chart of NZDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8006; the lower boundary 0.7989; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7949 level.

On the chart of the NZDCAD M15 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 0.7989, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 16 points.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.7980/0.7983 whereas the upper border goes across 0.7986/0.7983. 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 0.7998.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.7981; the lower boundary 0.7976; the width of the pattern is 5 points. Sell trades are better to be opened below the lower boundary 0.7976 with a possible movements towards the 0.7961 level.

The Double Bottom pattern has been formed on NZDCAD H1; the upper boundary is 0.7983; the lower boundary is 0.7960. The width of the pattern is 25 points. In case of a break of the upper boundary 0.7983, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M30, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.7983 - 0.0000 and support 0.7958 – 0.7958. In case the resistance level 0.7958 - 0.7958 is broken, the instrument is likely to follow the bearish trend.

According to the chart of H1, NZDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.7958 – 0.7958 and upper border 0.7983 – 0.7983. In case the lower border is broken, the instrument is likely to follow the downward trend.