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

The Bullish pennant graphic pattern has formed on the NZDUSD M5 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 0.5792.

The Double Top reversal pattern has been formed on NZDUSD M15. Characteristics: the upper boundary 0.5775; the lower boundary 0.5767; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.5767 with a possible movements towards the 0.5745 level.

The technical pattern called Head and Shoulders has appeared on the chart of NZDUSD M30. There are weighty reasons to suggest that the price will surpass the Neckline 0.5746/0.5746 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.5716.

According to the chart of M5, NZDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.5763 while the median line of the Neck is found at 0.5752/0.5753. 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 NZDUSD will go towards 0.5738.

According to the chart of M5, NZDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.5729/0.5735 whereas the upper border goes across 0.5743/0.5735. 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 NZDUSD will breach the upper border to head for 0.5750.

According to the chart of M5, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5743, the lower border is 0.5736. The signal means that a long position should be opened above the upper border 0.5743 of the Bullish Rectangle.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5743; the lower boundary 0.5737; the width of the pattern is 6 points. Sell trades are better to be opened below the lower boundary 0.5737 with a possible movements towards the 0.5722 level.

According to the chart of M5, NZDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5733 - 0.0000 and support 0.5726 – 0.5726. In case the resistance level 0.5726 - 0.5726 is broken, the instrument is likely to follow the bearish trend.

The NZDUSD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.5751, the Neckline and the upward angle are at 0.5740/0.5741. 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 0.5726.

According to the chart of M5, NZDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5740 - 0.0000 and support 0.5732 – 0.5732. In case the resistance level 0.5732 - 0.5732 is broken, the instrument is likely to follow the bearish trend.