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 which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.5839 – 0.5839 and upper border 0.5847 – 0.5847. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of NZDUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5838; the lower boundary 0.5827; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5797 level.

On the chart of NZDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5838; the lower boundary 0.5827; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5804 level.

The Bullish Flag pattern has been formed on NZDUSD at M5. The lower boundary of the pattern is located at 0.5787/0.5781, while the higher boundary lies at 0.5791/0.5785. The projection of the flagpole is 15 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.5791 is broken, the price will move further upwards.

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 0.5791, a further uptrend is possible.

On the chart of NZDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5785; the lower boundary 0.5779; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5764 level.

The Bullish pennant graphic pattern has formed on the NZDUSD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.5792.

The Double Top reversal pattern has been formed on NZDUSD M15. Characteristics: the upper boundary 0.5775; the lower boundary 0.5767; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.5767 with a possible movements towards the 0.5745 level.

The technical pattern called Head and Shoulders has appeared on the chart of NZDUSD M30. There are weighty reasons to suggest that the price will surpass the Neckline 0.5746/0.5746 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.5716.

According to the chart of M5, NZDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.5763 while the median line of the Neck is found at 0.5752/0.5753. 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 NZDUSD will go towards 0.5738.