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

The Double Bottom pattern has been formed on NZDCAD M15. 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 0.8049 is broken. The further movements will rely on the width of the current pattern 13 points.

According to the chart of H1, NZDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8043 – 0.8043 and upper border 0.8057 – 0.8057. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on NZDCAD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8043 is broken, the downward movement will continue.

According to the chart of M30, NZDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8057, the lower border is 0.8043. The signal means that a long position should be opened above the upper border 0.8057 of the Bullish Rectangle.

On the chart of NZDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8057; the lower boundary 0.8044; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8014 level.

The NZDCAD H1 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.8036, the Neckline and the upward angle are at 0.8002/0.8006. 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 NZDCAD will go towards 0.7966.

The Double Bottom pattern has been formed on NZDCAD M15; the upper boundary is 0.8016; the lower boundary is 0.8007. The width of the pattern is 10 points. In case of a break of the upper boundary 0.8016, 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.

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 0.8002 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -16 pips.

According to the chart of M5, NZDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8012 - 0.0000 and support 0.8002 – 0.8002. In case the resistance level 0.8002 - 0.8002 is broken, the instrument is likely to follow the bearish trend.

According to the chart of H1, NZDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8036 and 0.7981 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 55 pips. Outlook: If the upper border 0.8036 is broken, the price is likely to continue its move by 0.8053.