FX.co ★ Patterns NZDCAD | New Zealand Dollar (NZD) to Canadian Dollar (CAD) Rate in the Forex market

The Double Bottom pattern has been formed on NZDCAD M30. Characteristics: the support level 0.8007; the resistance level 0.8022; the width of the pattern 15 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 16 points.

According to the chart of M15, NZDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8007/0.8015 and upper border is 0.8024/0.8015. The pattern width is measured on the chart at -17 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 NZDCAD breaches the lower border, the price could continue its move toward 0.7993.

The Triple Bottom pattern has been formed on NZDCAD M30. It has the following characteristics: resistance level 0.8026/0.8023; support level 0.8010/0.8009; the width is 16 points. In the event of a breakdown of the resistance level of 0.8026, the price is likely to continue an upward movement at least to 0.8037.

The Double Top reversal pattern has been formed on NZDCAD M5. Characteristics: the upper boundary 0.8039; the lower boundary 0.8018; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 0.8018 with a possible movements towards the 0.8003 level.

The Double Bottom pattern has been formed on NZDCAD 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 0.8048 is broken. The further movements will rely on the width of the current pattern 21 points.

The Double Bottom pattern has been formed on NZDCAD 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 0.8048 is broken. The further movements will rely on the width of the current pattern 21 points.

The Triple Bottom pattern has formed on the chart of NZDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.8053 with the upper limit 0.8053/0.8044, the projection of the width is 10 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.8043, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on NZDCAD M5. 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 0.8044 is broken. The further movements will rely on the width of the current pattern 6 points.

According to H1, NZDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8074/0.8061 is broken out, the instrument is likely to move toward 0.8101.

The Double Top reversal pattern has been formed on NZDCAD M30. Characteristics: the upper boundary 0.8061; the lower boundary 0.8047; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 0.8047 with a possible movements towards the 0.8017 level.