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Technical Analysis Patterns
There is nothing more precious to a trader than an ability to predict a further price movement. Technical analysis is a key to your successful transaction. At the same time, you can rely on common and recurring situations that arise in the same circumstances. Our Technical Analysis Patterns section features all trading recommendations based on the technical analysis patterns that help traders make projections and turn a profit.
Head and Shoulders
Bullish Symmetrical Triangle
According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.7449 and 0.7430 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 19 pips. Outlook: If the upper border 0.7449 is broken, the price is likely to continue its move by 0.7453 pips.
According to the chart of M5, EURUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2149 - 0.0000 and support 1.2132 – 1.2132. In case the resistance level 1.2132 - 1.2132 is broken, the instrument is likely to follow the bearish trend.
Bearish Symmetrical Triangle
According to the chart of M5, NZDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.9091 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -17 pips.
On the chart of AUDUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7449; the lower boundary 0.7436; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7406 level.
The Double Top pattern has been formed on #INTC M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 50.77 is broken, the downward movement will continue.
According to the chart of M15, #PEP formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 144.92, the lower border is 143.88. The signal means that a short position should be opened after fixing a price below the lower border 143.88 of the Bearish Rectangle.
According to the chart of H1, EURNZD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.7175 and support 1.7109. In case the resistance level 1.7175 - 1.7175 is broken, the instrument is likely to follow the bullish trend.
Bullish Symmetrical Triangle
According to the chart of M5, EURCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0816/1.0825 whereas the upper border goes across 1.0833/1.0825. 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 EURCHF will breach the upper border to head for 1.0840.
The Bullish Flag pattern which signals continuation of a trend has been formed on the chart #TWTR H1. Forecast: if the price breaks above the pattern high at 48.20, then traders will be able to place a long deal with the target at 48.60.
The Bullish pennant graphic pattern has formed on the #TWTR H1 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 48.60.