FX.co ★ Patterns NZDUSD | New Zealand Dollar (NZD) to US Dollar (USD) Rate in the Forex market

The NZDUSD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.5915, the Neckline and the upward angle are at 0.5898/0.5898. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDUSD will go towards 0.5875.

The Triple Bottom pattern has been formed on NZDUSD M5. It has the following characteristics: resistance level 0.5809/0.5800; support level 0.5789/0.5792; the width is 20 points. In the event of a breakdown of the resistance level of 0.5809, the price is likely to continue an upward movement at least to 0.5805.

The Double Bottom pattern has been formed on NZDUSD M5; the upper boundary is 0.5809; the lower boundary is 0.5790. The width of the pattern is 20 points. In case of a break of the upper boundary 0.5809, 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.

The Bearish pennant pattern has formed on the NZDUSD M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5784 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5844; the lower boundary 0.5825; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 0.5825 with a possible movements towards the 0.5810 level.

The Triple Bottom pattern has formed on the chart of the NZDUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.5693/0.5690.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5700 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -10 pips.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5733; the resistance level 0.5742; the width of the pattern 9 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 9 points.

On the chart of NZDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5734; the lower boundary 0.5723; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5708 level.

The Bullish pennant pattern is formed on the NZDUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.5736, a further uptrend is possible.