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FX.co ★ EURNZD M5: Double Bottom

EURNZD M5: Double Bottom

Double BottomThe 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 1.6563 is broken. The further movements will rely on the width of the current pattern 15 points.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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