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

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 0.5817 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 Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.5843 and support 0.5836. In case the resistance level 0.5843 - 0.5843 is broken, the instrument is likely to follow the bullish trend.

The Double Top pattern has been formed on NZDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5837 is broken, the downward movement will continue.

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 0.5830 is broken. The further movements will rely on the width of the current pattern 10 points.

The Double Bottom pattern has been formed on NZDUSD M15. 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 0.5830 is broken. The further movements will rely on the width of the current pattern 10 points.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5820; the resistance level 0.5830; the width of the pattern 10 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 10 points.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5820 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -12 pips.

The Bearish Flag pattern has been formed on the chart NZDUSD M15. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.5817, traders should enter the market.

The Bearish pennant pattern has formed on the NZDUSD M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5817 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.

On the chart of NZDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5853; the lower boundary 0.5848; the width of the pattern 5 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5833 level.