FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Triple Bottom pattern has formed on the chart of #EBAY M30. Features of the pattern: The lower line of the pattern has coordinates 82.44 with the upper limit 82.44/80.50, the projection of the width is 311 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 79.33, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.0440; the resistance level 1.0448; 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 9 points.

The Double Bottom pattern has been formed on AUDCAD 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 0.9646 is broken. The further movements will rely on the width of the current pattern 8 points.

The Bearish pennant pattern has formed on the NZDUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5978 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.

According to the chart of H1, SILVER formed the Inverse Head and Shoulder pattern. The Head’s top is set at 76.24 while the median line of the Neck is found at 71.97/75.31. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of SILVER will go towards 76.28

According to the chart of M15, GBPJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 208.80 and support 208.46. In case the resistance level 208.80 - 208.80 is broken, the instrument is likely to follow the bullish trend.

According to M30, SILVER is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 76.83/76.24 is broken out, the instrument is likely to move toward 76.27.

The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3581; the lower boundary 1.3564; the width of the pattern is 16 points. Sell trades are better to be opened below the lower boundary 1.3564 with a possible movements towards the 1.3542 level.

The Double Top reversal pattern has been formed on GBPAUD M5. Characteristics: the upper boundary 1.9197; the lower boundary 1.9186; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 1.9186 with a possible movements towards the 1.9171 level.

The Triple Bottom pattern has formed on the chart of AUDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.9651 with the upper limit 0.9651/0.9647, the projection of the width is 9 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 0.9642, the price is most likely to continue the upward movement.