FX.co ★ Patterns EURNZD | Euro (EUR) to New Zealand Dollar (NZD) Rate in the Forex market

The Triple Bottom pattern has formed on the chart of EURNZD D1. Features of the pattern: The lower line of the pattern has coordinates 1.9851 with the upper limit 1.9851/1.9803, the projection of the width is 355 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 1.9496, the price is most likely to continue the upward movement.

According to the chart of M5, EURNZD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.9965 and 1.9925 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 40 pips. Outlook: If the upper border 1.9965 is broken, the price is likely to continue its move by 1.9957.

The Bullish Flag pattern has been formed on the chart EURNZD M5 which signals that the upward trend will continue. Signals: а break of the peak at 1.9968 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant signal – Trading instrument EURNZD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.9968, with the prospect of the next move being a projection of the flagpole height.

The Triple Top pattern has formed on the chart of the EURNZD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.9887/1.9902 with the upper limit 1.9916/1.9920; the projection of the width is 29 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.9887, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on EURNZD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9902 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on EURNZD M15. Characteristics: the upper boundary 1.9916; the lower boundary 1.9887; the width of the pattern is 29 points. Sell trades are better to be opened below the lower boundary 1.9887 with a possible movements towards the 1.9864 level.

The 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 1.9837 is broken. The further movements will rely on the width of the current pattern 16 points.

According to the chart of M5, EURNZD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.9861/1.9872 whereas the upper border goes across 1.9884/1.9872. 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 EURNZD will breach the upper border to head for 1.9887.

The Double Top pattern has been formed on EURNZD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9866 is broken, the downward movement will continue.