FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market
NZDCAD M5
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 0.8228 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -8 pips.
NZDCAD M5
Double Top
The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8288; the lower boundary 0.8280; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.8280 with a possible movements towards the 0.8265 level.
NZDCAD M5
Bullish Symmetrical Triangle
According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8286 and 0.8262 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 24 pips. Outlook: If the upper border 0.8286 is broken, the price is likely to continue its move by 0.8287.
NZDCAD M30
Inverse Head and Shoulder
According to the chart of M30, NZDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8268 while the median line of the Neck is found at 0.8239/0.8250. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.8298
NZDCAD M15
Inverse Head and Shoulder
According to the chart of M15, NZDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8268 while the median line of the Neck is found at 0.8239/0.8250. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.8291
NZDCAD M5
Bullish Flag
The Bullish Flag pattern has been formed on the chart NZDCAD M5 which signals that the upward trend will continue. Signals: а break of the peak at 0.8269 may push the price higher, and the rise will be the projection of the pole.
NZDCAD M15
Double Bottom
The Double Bottom pattern has been formed on NZDCAD M15; the upper boundary is 0.8287; the lower boundary is 0.8266. The width of the pattern is 21 points. In case of a break of the upper boundary 0.8287, 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.
NZDCAD M5
Double Bottom
The Double Bottom pattern has been formed on NZDCAD M5; the upper boundary is 0.8287; the lower boundary is 0.8266. The width of the pattern is 21 points. In case of a break of the upper boundary 0.8287, 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.
NZDCAD M30
Triple Bottom
The Triple Bottom pattern has formed on the chart of NZDCAD M30. Features of the pattern: The lower line of the pattern has coordinates 0.8311 with the upper limit 0.8311/0.8307, the projection of the width is 23 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.8288, the price is most likely to continue the upward movement.
NZDCAD M15
Bearish Rectangle
According to the chart of M15, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8311 - 0.0000 and support 0.8288 – 0.8288. In case the resistance level 0.8288 - 0.8288 is broken, the instrument is likely to follow the bearish trend.