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

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 0.5843 is broken. The further movements will rely on the width of the current pattern 9 points.

According to the chart of M5, NZDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.5833 – 0.5833 and upper border 0.5843 – 0.5843. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on NZDUSD M5. Characteristics: the support level 0.5834; the resistance level 0.5843; the width of the pattern 9 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. Description: The lower border is 0.5834/0.5838 and upper border is 0.5841/0.5838. The pattern width is measured on the chart at -7 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDUSD breaches the lower border, the price could continue its move toward 0.5823.

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 0.5850 – 0.5850 and upper border 0.5861 – 0.5861. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on NZDUSD M5. Characteristics: the upper boundary 0.5860; the lower boundary 0.5851; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 0.5851 with a possible movements towards the 0.5836 level.

According to the chart of M5, NZDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.5819 is likely to encourage a continuation of the downward trend.

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.