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

The Bullish pennant signal – Trading instrument AUDCHF M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.5311, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M15, AUDCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.5270 – 0.5270 and upper border 0.5280 – 0.5280. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Top pattern has formed on the chart of the AUDCHF M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -1, and pattern’s width 5. Forecast If the price breaks through the support level 0.5269, it is likely to move further down to 0.5259.

The Double Top pattern has been formed on AUDCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5265 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the AUDCHF M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.5258/0.5260 with the upper limit 0.5266/0.5265; the projection of the width is 8 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.5258, the price is most likely to continue the downward movement.

The AUDCHF M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.5271, the Neckline and the upward angle are at 0.5259/0.5261. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDCHF will go towards 0.5246.

On the chart of the AUDCHF H1 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5253, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 8 points.

On the chart of AUDCHF H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5242; the lower boundary 0.5231; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5191 level.

According to the chart of M15, AUDCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.5230 – 0.5230 and upper border 0.5244 – 0.5244. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of the AUDCHF M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.5221, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 4 points.