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 0.9865; 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.

On the chart of AUDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9882; the lower boundary 0.9872; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9850 level.

According to the chart of M30, AUDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9882, the lower border is 0.9852. The signal means that a short position should be opened after fixing a price below the lower border 0.9852 of the Bearish Rectangle.

According to the chart of M15, AUDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.9852 – 0.9852 and upper border 0.9882 – 0.9882. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9862/0.9869 and upper border is 0.9879/0.9869. 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 AUDCAD breaches the lower border, the price could continue its move toward 0.9854.

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 0.9899, a further uptrend is possible.

The Bullish pennant graphic pattern has formed on the AUDCAD M15 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 0.9908.

The Bullish pennant pattern is formed on the AUDCAD M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.9883, a further uptrend is possible.

On the chart of the AUDCAD 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 0.9821, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 16 points.