FX.co ★ Patterns AUDCAD | Australian Dollar (AUD) to Canadian Dollar (CAD) Rate in the Forex market

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.8895; the resistance level 0.8909; the width of the pattern 14 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 15 points.

According to the chart of M30, AUDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.8933 while the median line of the Neck is found at 0.8896/0.8895. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDCAD will go towards 0.8865.

The Bullish pennant graphic pattern has formed on the AUDCAD M30 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.8950.

The Triple Top pattern has formed on the chart of the AUDCAD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -8, and pattern’s width 16. Forecast If the price breaks through the support level 0.8846, it is likely to move further down to 0.8839.

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.8827; the resistance level 0.8835; the width of the pattern 8 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 8 points.

According to the chart of M5, AUDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8829 while the median line of the Neck is found at 0.8819/0.8825. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of AUDCAD will go towards 0.8844

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8843 and 0.8764 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 79 pips. Outlook: If the upper border 0.8843 is broken, the price is likely to continue its move by 0.8826.

According to the chart of H1, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8842/0.8865 and upper border is 0.8888/0.8865. The pattern width is measured on the chart at -46 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 0.8825.

The Bullish pennant pattern is formed on the AUDCAD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.8873, a further uptrend is possible.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.8868; the lower boundary is 0.8857. The width of the pattern is 11 points. In case of a break of the upper boundary 0.8868, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.