FX.co ★ Patterns NZDUSD | New Zealand Dollar (NZD) to US Dollar (USD) Rate in the Forex market

According to the chart of M5, NZDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5970 and support 0.5959. In case the resistance level 0.5970 - 0.5970 is broken, the instrument is likely to follow the bullish trend.

On the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5969; the lower boundary 0.5960; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5938 level.

The Double Bottom pattern has been formed on NZDUSD M30. 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 0.5996 is broken. The further movements will rely on the width of the current pattern 56 points.

The Triple Top pattern has formed on the chart of the NZDUSD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.5951/0.5965 with the upper limit 0.5980/0.5976; the projection of the width is 29 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.5951, the price is most likely to continue the downward movement.

The Bullish pennant pattern is formed on the NZDUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.5976, a further uptrend is possible.

The technical pattern called Head and Shoulders has appeared on the chart of NZDUSD M5. There are weighty reasons to suggest that the price will surpass the Neckline 0.5977/0.5977 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.5962.

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 M5, NZDUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5999, the lower border is 0.5990. The signal means that a short position should be opened after fixing a price below the lower border 0.5990 of the Bearish Rectangle.

According to the chart of M5, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6047, the lower border is 0.6038. The signal means that a long position should be opened above the upper border 0.6047 of the Bullish Rectangle.

The Double Top pattern has been formed on NZDUSD D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5923 is broken, the downward movement will continue.