FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market

The Triple Top pattern has formed on the chart of the NZDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -3, and pattern’s width 11. Forecast If the price breaks through the support level 0.8083, it is likely to move further down to 0.8079.

The Double Bottom pattern has been formed on NZDCAD H1; the upper boundary is 0.8087; the lower boundary is 0.8065. The width of the pattern is 21 points. In case of a break of the upper boundary 0.8087, 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 Flag pattern has been formed on the chart NZDCAD M30 which signals that the downward trend will continue. If the price breaks below the low at 0.8070, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (20 points).

The Bearish pennant pattern has formed on the NZDCAD M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.8070 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 Bottom pattern has been formed on NZDCAD M15; the upper boundary is 0.8113; the lower boundary is 0.8077. The width of the pattern is 35 points. In case of a break of the upper boundary 0.8113, 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.

On the chart of NZDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8112; the lower boundary 0.8103; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8088 level.

The Double Bottom pattern has been formed on NZDCAD M15. Characteristics: the support level 0.8087; the resistance level 0.8095; the width of the pattern 8 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 7 points.

According to the chart of M5, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8164 and 0.8132 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 32 pips. Outlook: If the upper border 0.8164 is broken, the price is likely to continue its move by 0.8166.

On the chart of NZDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8164; the lower boundary 0.8156; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8134 level.

According to the chart of M15, NZDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8156 – 0.8156 and upper border 0.8165 – 0.8165. In case the upper border is broken, the instrument is likely to follow the upward trend.