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

The Double Top pattern has been formed on AUDCAD D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9742 is broken, the downward movement will continue.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9786/0.9826 and upper border is 0.9860/0.9826. The pattern width is measured on the chart at -74 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 AUDCAD breaches the lower border, the price could continue its move toward 0.9811.

The Bearish pennant pattern has formed on the AUDCAD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.9786; the projection of the flagpole height is equal to 32 pips. In case the price breaks out the pattern’s bottom of 0.9786, the downtrend is expected to continue for further level 0.9771.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.9919/0.9926 whereas the upper border goes across 0.9936/0.9926. 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 AUDCAD will breach the upper border to head for 0.9941.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.9908/0.9927 whereas the upper border goes across 0.9948/0.9927. 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 AUDCAD will breach the upper border to head for 0.9942.

According to the chart of M30, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.9874 is likely to encourage a continuation of the downward trend.

The Double Top reversal pattern has been formed on AUDCAD M5. Characteristics: the upper boundary 0.9934; the lower boundary 0.9931; the width of the pattern is 3 points. Sell trades are better to be opened below the lower boundary 0.9931 with a possible movements towards the 0.9916 level.

According to the chart of M30, AUDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9923, the lower border is 0.9907. The signal means that a long position should be opened above the upper border 0.9923 of the Bullish Rectangle.

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9865; the resistance level 0.9870; the width of the pattern 5 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 5 points.

According to M15, AUDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.9868/0.9867 is broken out, the instrument is likely to move toward 0.9890.