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

The Triple Top pattern has formed on the chart of the EURNZD H1 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -6, support level -11, and pattern’s width 41. Forecast If the price breaks through the support level 1.9750, it is likely to move further down to 1.9756.

According to the chart of M5, EURNZD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.9796, the lower border is 1.9783. The signal means that a long position should be opened above the upper border 1.9796 of the Bullish Rectangle.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9795; the lower boundary 1.9783; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9768 level.

The Double Top pattern has been formed on EURNZD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9589 is broken, the downward movement will continue.

On the chart of the EURNZD M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.9570, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 64 points.

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.

On the chart of EURNZD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9495; the lower boundary 1.9477; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9462 level.

The Double Bottom pattern has been formed on EURNZD M5; the upper boundary is 1.9533; the lower boundary is 1.9522. The width of the pattern is 10 points. In case of a break of the upper boundary 1.9533, 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 Triple Bottom pattern has been formed on EURNZD M15. It has the following characteristics: resistance level 1.9836/1.9827; support level 1.9791/1.9801; the width is 45 points. In the event of a breakdown of the resistance level of 1.9836, the price is likely to continue an upward movement at least to 1.9819.

The Triple Bottom pattern has been formed on EURNZD D1. It has the following characteristics: resistance level 1.9851/1.9803; support level 1.9496/1.9509; the width is 355 points. In the event of a breakdown of the resistance level of 1.9851, the price is likely to continue an upward movement at least to 1.9592.