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

According to the chart of M30, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3846 while the median line of the Neck is found at 1.3792/1.3779. 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 GBPUSD will go towards 1.3749.

The Bearish Flag pattern has been formed on the chart #TSLA M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 420.01, traders should enter the market.

The Bearish pennant pattern has formed on the #TSLA M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 420.01; the projection of the flagpole height is equal to 1991 pips. In case the price breaks out the pattern’s bottom of 420.01, the downtrend is expected to continue for further level 419.86.

On the chart of AUDCHF M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5429; the lower boundary 0.5399; the width of the pattern 30 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5369 level.

On the chart of AUDJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 108.43; the lower boundary 107.78; the width of the pattern 65 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 107.56 level.

The Double Top reversal pattern has been formed on #INTC M15. Characteristics: the upper boundary 49.22; the lower boundary 48.25; the width of the pattern is 102 points. Sell trades are better to be opened below the lower boundary 48.25 with a possible movements towards the 48.03 level.

On the chart of AUDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 108.30; the lower boundary 107.78; the width of the pattern 52 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 107.63 level.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 211.39 is likely to encourage a continuation of the downward trend.

According to the chart of M30, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0564/1.0593 whereas the upper border goes across 1.0627/1.0593. 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 GBPCHF will breach the upper border to head for 1.0623.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0584/1.0594 whereas the upper border goes across 1.0605/1.0594. 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 GBPCHF will breach the upper border to head for 1.0609.