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

According to the chart of M5, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6057, the lower border is 0.6050. The signal means that a long position should be opened above the upper border 0.6057 of the Bullish Rectangle.

According to the chart of M5, GOLD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 2354.12/2357.89 whereas the upper border goes across 2360.48/2357.89. 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 GOLD will breach the upper border to head for 2358.04.

The technical pattern called Head and Shoulders has appeared on the chart of #Bitcoin M5. There are weighty reasons to suggest that the price will surpass the Neckline 61855.89/61862.45 after the right shoulder has been formed. So, the trend is set to change with the price heading for 61862.30.

The Double Top reversal pattern has been formed on EURJPY H1. Characteristics: the upper boundary 169.34; the lower boundary 169.05; the width of the pattern is 31 points. Sell trades are better to be opened below the lower boundary 169.05 with a possible movements towards the 168.65 level.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.9067 and 0.9055 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 12 pips. Outlook: If the upper border 0.9067 is broken, the price is likely to continue its move by 0.9076.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 197.06; the lower boundary 196.74; the width of the pattern 32 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 196.44 level.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 2360.48; the lower boundary 2359.07; the width of the pattern is 128 points. Sell trades are better to be opened below the lower boundary 2359.07 with a possible movements towards the 2358.92 level.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 156.27/156.44 whereas the upper border goes across 156.57/156.44. 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 USDJPY will breach the upper border to head for 156.59.

According to the chart of M5, EURGBP produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.8588 while the median line of the Neck is set at 0.8592/0.8592. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of EURGBP will go towards 0.8607.

The technical pattern called Head and Shoulders has appeared on the chart of AUDJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 103.56/103.57 after the right shoulder has been formed. So, the trend is set to change with the price heading for 103.42.