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

The Triple Top pattern has formed on the chart of the NZDCAD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 5, support level -5, and pattern’s width 21. Forecast If the price breaks through the support level 0.8215, it is likely to move further down to 0.8213.

The Triple Top pattern has formed on the chart of the NZDCAD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8215/0.8220 with the upper limit 0.8236/0.8231; the projection of the width is 21 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8215, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on NZDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8215 is broken, the downward movement will continue.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8236; the lower boundary 0.8215; the width of the pattern 21 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8200 level.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8143/0.8150 whereas the upper border goes across 0.8160/0.8150. 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 0.8165.

According to the chart of M5, NZDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.8160 while the median line of the Neck is found at 0.8149/0.8147. 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 NZDCAD will go towards 0.8132.

According to the chart of M5, NZDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.8147 while the median line of the Neck is found at 0.8135/0.8134. 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 NZDCAD will go towards 0.8119.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8139 and 0.8116 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 23 pips. Outlook: If the upper border 0.8139 is broken, the price is likely to continue its move by 0.8143.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8111/0.8126 whereas the upper border goes across 0.8139/0.8126. 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 0.8141.

According to the chart of M5, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8165, the lower border is 0.8159. The signal means that a long position should be opened above the upper border 0.8165 of the Bullish Rectangle.